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Cuba applies monetary overhaul with social protection

Cuba applies monetary overhaul with social protection
Cuba applies monetary overhaul with social protection
Havana, Jan 7 (Prensa Latina) Social protection, particularly for the most vulnerable sectors, is currently a priority of the monetary overhaul in Cuba despite the removal of undue gratuitousness and excessive subsidies.
Since January 1, this complex and transcendental economic transformation has been underway with a monetary and exchange rate unification and actions aimed at favoring the updating of the economic model and essential for carrying out other tasks outlined in the country s economic and social strategy.
As government authorities and party members have reiterated, everything will be done with the greatest attachment to social justice that characterizes the Cuban socialist system, with aid to the needy and for which 30 billion pesos are available. ....

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Cuba welcomes 2021 in victory, introduces new monetary policy

3,660 10 minutes read
On Jan. 1, the 62nd anniversary of Cuba’s revolutionary victory, the government is implementing a sweeping economic policy with reorganization of the monetary system to promote more efficiency and greater production. It comes at a crucial time when the U.S. blockade and the impacts of COVID-19 are creating deeper difficulties for the Cuban people.
Cuba’s socialist system enabled the people and government to weather the storm of 2020 and save lives in a way that U.S. capitalism could not and did not do. The most telling example is Cuba’s unified effort to overcome COVID. Only 145 people have died from the virus, just 1.2 percent of the per capita COVID death rate in the United States. And Cuba’s outstanding internationalist medical workers went to dozens of countries to help beleaguered peoples in their crisis. ....

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