Monetary Ordering News Today

Like most economists, Deus is convinced Cubas communist revolution has no choice now but to accommodate an entrepreneurial revolution. We are like more than 30% of [Cuba’s] working population, which is something very important. So we need to survive in this moment because its our responsibility to make this country better in the long term. Toward that end, Deus believes Cubas long overdue currency reform is a good thing. It’s execution so far, however, is another thing. I think in the mediu...

Published January 11, 2021 at 3:45 PM EST Listen • 49:00 / Cuban began phasing out the Cuban Convertible Peso, the CUC, on Jan. 1, 2021. It brings an end to the dual currency system on the island that has been in place since the 1990s. The change is expected to stoke inflation even as the countrys economy is reeling from American restrictions and the pandemic-induced collapse of tourism. After more than 25 years, Cuba is doing away with its dual currency system an...