Search results
Results From The WOW.Com Content Network
The economy of Cuba is a planned economy dominated by state-run enterprises. In the 1990s, the ruling Communist Party of Cuba encouraged the formation of worker co-operatives and self-employment. In the late 2010s, private property and free-market rights along with foreign direct investment were granted by the 2018 Cuban constitution.
After the collapse of the Soviet Union in 1991, Cuban exports declined from $5.5 billion to $1.7 billion pesos while imports fell from $7.8 billion to $2.5 billion pesos. Until this time, more than two-thirds of Cuba's sugar exports were to the Soviet Union and members of COMECON. The demand from Eastern European states fell to just 50,000 tons ...
The United States embargo against Cuba has prevented U.S. businesses from conducting trade or commerce with Cuban interests since 1958. Modern diplomatic relations are cold, stemming from historic conflict and divergent political ideologies. U.S. economic sanctions against Cuba are comprehensive and impact all sectors of the Cuban economy.
Converting those Cuban pesos to other currencies poses yet another challenge, as there are several, highly fluctuating exchange rates in the island. Long lines form and frustration grows as Cuba ...
The external sector is the portion of a country's economy that interacts with the economies of other countries. In the goods market, the external sector involves exports and imports . [ 1 ] In the financial market it involves capital flows .
Food production, the supply of phamaceuticals and transportation are down by at least 50% since 2018, the top officials said, and continued to decline this year in large part due to chronic fuel ...
Tourism was regarded as the only stable sector of the Cuban economy and became the subject of policy changes to enhance its development. Cuba legalized the use of the US dollar and created a dual currency system, one based on the dollar and the Cuban convertible peso with the other system based on the Cuban peso. Different institutions and ...
A huge power outage hit Cuba Oct. 19, and much of the island is still without electricity. Here’s why things may get worse.