Cuba is being hit by one of the hardest crises in recent decades due to its economy, which has not recovered from the blow of the Covid-19 pandemic, a bumpy monetary reordering and the tightening of U.S. sanctions.
Elías Amor, a Cuban economist and researcher based in Spain, told Noticias Telemundo that in 2021 and 2022, inflation on the island grew by more than 100%. In addition, Amor said,"tourism is still 40% below the records of 2019, so it does not generate enough foreign currency and that has generated this nightmare."
The constant rise in the prices of food staples is one of the biggest problems facing the Cuban population. The creation of stores that use Freely Convertible Currency, known as MLC in Spanish, has accentuated the inequalities between those who receive money from their relatives abroad – and can use the virtual currency on reloadable cards – and those who can't.
To purchase chicken, according to Rodriguez, "you have to give more than half of your salary. You can’t buy what you need and it’s very desperate,” she said. “You can’t find things, and when you find them they are very expensive," Tellez said."Before, in Havana, a pound of lemons cost 5 or 10 Cuban pesos. Now you find it at 200, nobody can bear those prices.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China says allegations of Chinese spying in Cuba are falseChina said on Monday that allegations that it was using Cuba as a spying base are false and it denounced the U.S. government and media for releasing what it called inconsistent information.
Read more »
White House: US shared concerns with Cuba about hosting China spy baseThe United States has made its concerns known to the Cuban government about Cuba hosting Chinese spy operations on its territory, White House spokesperson John Kirby said on Monday.
Read more »
Why did John Kirby mislead over China spy base in Cuba?Last Thursday, the Wall Street Journal reported that China had agreed to pay Cuba billions of dollars to establish a major signals and electronic intelligence station on the island.
Read more »
China's Xi Jinping hosts Honduras' Xiomara Castro as controversy over Cuba spying swirls in USChinese President Xi Jinping and Honduran President Xiomara Castro met for a six-day state visit to formally discuss new relations between the nations.
Read more »
Elizabeth Gilbert Delays Publication of Novel Set in Russia Amid BacklashThe novel takes place in Siberia and centers on the story of a Russian family that hid in the Siberian wilderness for half a century to resist the Soviet government.
Read more »
U.S. lawmakers want South Africa to face consequences for 'support for Russia' amid Ukraine warA handful of senior U.S. lawmakers from both parties are calling for South Africa to be punished for its perceived support of Russia amid the ongoing war in Ukraine.
Read more »