One of the measures launched this Wednesday by Cuban Prime Minister Manuel Marrero Cruz in Parliament was the reauthorization of cash payments in foreign currencies, such as dollars and euros, in establishments in various sectors in Cuba.
The Cuban government announced that it will resume accepting cash payments in foreign currency in sectors such as tourism and stores in MLC (Freely Convertible Currency), a measure that had been suspended in 2021. It turns out that they now realized that they were not collecting cash and were losing a lot of money.
According to the measure, published on Facebook by the pro-government journalist, Lázaro Manuel Alonso, it has already been approved that “cash in foreign currency is accepted in certain sectors and activities such as Tourism.”
Marrero pointed out that these measures are part of the country’s “Macroeconomic Stabilization Program” and that some of them are focused on controlling the “partial dollarization of the economy.” This is how cash payments in dollars are established in Cuba.
“It’s a mockery how they take measures and then change them. What has to change is the way of thinking and doing business. Any measure they take is not enough for the situation that the people are living,” said a Cuban regarding these measures.
Cuba accepts cash payments in dollars in tourism and MLC stores
Now the Cuban government has decided to postpone the “banking” process where all payments on the island were digitized, prioritizing the acceptance of cash in state institutions, as announced by Prime Minister Marrero.
“We are losing a lot of money. We are not going to eliminate banking, but tourists cannot come and book a deal because the cards do not work. This measure will not only apply to tourism, but also to shops and other sectors,” the official explained in Parliament.
Cuba is facing a serious economic crisis that has lasted for almost five years, leaving the State without foreign currency and with scarce resources to cover its expenses and support its accounts.
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