Monetary overhaul makes progress in Cuba despite adversities
Havana, Mar 13 (Prensa Latina) The monetary overhaul in Cuba is making progress despite the situation caused by the tightening of the economic, commercial and financial blockade imposed by the United States, ministers said.An assessment of the two and a half months of implementation of this transformation in Cuba's economic and social life, which has implied removing the monetary and exchange duality, establishing a unique exchange rate at 24 pesos (CUP) per US dollar, implementing a general pay reform and eliminating undue gratuities and excessive subsidies, makes them evident.
Minister of Finance and Prices Meisi Bolaños noted that this is a broad and complex process, an economic transformation that, even, implies changes in mentality. She stressed that while respecting the effects of an economic category relative to prices and its effects, the Government is making certain corrections, taking into account the people's opinion.
Bolaños stated that in this stage of adjustment, everything will be modified as much as possible and in response to the demands and criteria from workers, pensioners and the population in general, the corresponding actions will be taken.
Marino Murillo, head of the Commission for the Implementation and Development of the Guidelines, said that the major purpose of the monetary overhaul is a correction of the price of products, seeking to make the economy react.
Murillo also highlighted the difficult economic conditions that accompany this process due to the tightening of the US economic, commercial and financial blockade and the impact of the Covid-19 pandemic.
jg/iff/car/crc
Minister of Finance and Prices Meisi Bolaños noted that this is a broad and complex process, an economic transformation that, even, implies changes in mentality. She stressed that while respecting the effects of an economic category relative to prices and its effects, the Government is making certain corrections, taking into account the people's opinion.
Bolaños stated that in this stage of adjustment, everything will be modified as much as possible and in response to the demands and criteria from workers, pensioners and the population in general, the corresponding actions will be taken.
Marino Murillo, head of the Commission for the Implementation and Development of the Guidelines, said that the major purpose of the monetary overhaul is a correction of the price of products, seeking to make the economy react.
Murillo also highlighted the difficult economic conditions that accompany this process due to the tightening of the US economic, commercial and financial blockade and the impact of the Covid-19 pandemic.
jg/iff/car/crc
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