Radio Cadena Agramonte
Sunday, August 9, 2020
Thursday, October 17, 2019

The Cuban government announces plan to capture foreign currencies and stimulate national industrial production

Havana, Oct. 17 - The government of Cuba has announced new economic measures that are designed to capture foreign currencies in order to increase national production of electric-domestic products and auto accessories and to better satisfy the internal demand for said products.

The measures were explained to the people in a special two-hour edition of the nightly news program, La Mesa Redonda, in which participated: Vice President Salvador Valdés Mesa as well as the Minister of Economy and Planning; the Minister of Finance and Prices; the President of the Central Bank of Cuba; the Minster of Domestic Commerce; and the First Vice President of Cimex Corporation, a Cuban import-export company; and the Minister of Foreign Commerce and Investment.

The measures include the possibility for natural persons, including foreigners who are permanent residents, to open bank accounts in foreign currencies, with the possibility of direct electronic deposits from other countries. The banks of Cuba will now accept deposits in ten international currencies, including the U.S. dollar.(RHC)