29 February, 2008 |

Cuba is going to lead currency reform

New Cuban leader Raul Castro has started discharge of duties of chairman of state council. First of all he will forward his forces and attention to the economy sector, which requires serious reforms. The new leader considers as one of the major problems the decision of problems of monetary system within the limits of which on Cuba, as a matter of fact, relies in two currencies.
Alongside with usual peso, so-called convertible or foreign currency is being used in the country. Cuban peso (quoted at the rate $1, 08) is used by foreign tourists and is accepted in the shops, where it is possible to buy qualitative products, clothes and the household goods. The usual peso is used by local population and exchanges at the rate of 24 national pesos for one convertible peso.
After Raul Castro has mentioned necessity to enter uniform currency, having thus hinted on possible increase of a rate of national peso twice, ordinary Cubans have rushed to exchange offices. On Monday and Tuesday in the center of Havana huge queues of people, wishing to get off hands convertible peso and to exchange them on usual, was standing near the banks.
Authorities even had to calm citizens: the state radio and TV called people not to not hurry up, and state council has officially declared that currency reform will be gradually spent.
 

• The number of cruises to Cuba has sharply reduced
• Cuba will construct fifty expensive hotels
• One ticket for all Europe
• Cuba is among five healthiest countries of the world

Your comment: