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Like most economists, Deus is convinced Cuba's 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 it's our responsibility to make this country better in the long term. Toward that end, Deus believes Cuba's long overdue currency reform is a good thing. It’s execution so far, however, is another thing. I think in the medium and long term it will be positive. It shows, like, the maturity of our government, to finally d...

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 country's 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 and getting rid of the Cuban Convertible Peso. What does the change mean for Cubans and for Cuban-Ame...