https://abcnews.go.com/International/wireStory/long-lines-form-frustration-grows-cuba-runs-short-109714175
So you're telling me, professor, those pesky capitalists are making all the money and hoarding it? They don't trust government banks, eh?Quote:
Alejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM, but when it was almost his turn, the cash ran out. He angrily hopped on his electric tricycle and traveled several kilometers to another branch where he finally managed to withdraw some money after wasting the entire morning.
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Omar Everleny Perez, a Cuban economist and university professor, says the main culprits are the government's growing fiscal deficit, the nonexistence of banknotes with a denomination greater than 1,000 Cuban pesos (about $3 in the parallel market), stubbornly high inflation and the non-return of cash to banks.
"There is money, yes, but not in the banks," said Perez, adding that most of the cash is being held not by salaried workers, but by entrepreneurs and owners of small- and medium-size business who are more likely to collect cash from commercial transactions but are reluctant to return the money to the banks.
Good. Hang on, Cuba. Hang on.Quote:
Then, in 2023 the government announced several measures aimed at promoting a "cashless society," making the use of credit cards mandatory to pay for some transactions - including purchases of food, fuel and other basic goods - but many businesses simply refuse to accept them.
Buy a man eat fish, he day, teach fish man, to a lifetime.
- Joe Biden
I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.
- Kamala Harris
- Joe Biden
I think that, to be very honest with you, I do believe that we should have rightly believed, but we certainly believe that certain issues are just settled.
- Kamala Harris