Cuba's Minister deems vital monetary overhaul to boost development Cuba's Minister deems vital monetary overhaul to boost development Havana, Dec 11 (Prensa Latina) Cuba's Minister of Economy Alejandro Gil affirmed on Friday that the monetary overhaul, with the Cuban peso as the only national currency, is an indispensable measure to boost the country's development. We are entering a period of deep and necessary transformations, for all's sake, Gil tweeted referring to the implementation of the monetary and exchange rate unification that will come into force on January 1, 2021. Meanwhile, the head of Foreign Trade and Investment Rodrigo Malmierca stated on Twitter that the beginning of this overhauling task, with a single exchange rate of 24 pesos to one dollar, is a key step in the updating of the economic model.