According to official Cuban data, the island nation’s economy fell 0.9% in 2016. A political and economic crisis in key trading partner Venezuela is to blame, according to President Raul Castro at a speech at Cuba’s National Assembly on Tuesday. He predicting a slightly brighter outlook for 2017. The impact of Cuba’s sharp economic contraction … Read more
In 1990, when the USSR collapsed, Cuba endured a severe curtailment of investment, trade and general political support from a partner that had invested about $100 billion (in 2016 $US) in the preceding 30 years. The so called “Special Period” was defined primarily by the severe shortages of hydrocarbon energy resources in the form of … Read more
Cuba’s economic growth quickened significantly in 2015, according to the latest estimates from the United Nations Economic Commission for Latin America and the Caribbean. The island’s gross domestic product grew by 4 percent in 2015, after expanding by just 1.3 percent in 2014, according to the ECLAC data. That also represented Cuba’s highest year-over-year GDP … Read more
Exploring Cuba’s economic opportunities By Anne-Sophie Gidoin Op-Ed Contributor To catch 2 Billion USD in foreign investment per year, the Caribbean’s biggest island has equipped itself with an engaging legal framework. The remedies available in case of disputes against local entities reinforce the attractiveness of this 11 million individuals-market. Cuba seeks foreign investment in the … Read more
According to a report by Reuters, Cuba’s government is responded to a liquidity shortage by cutting imports and extending credit terms with trading partners. The effects of a severe drought and low commodity prices are the culprits in the latest challenge for the struggling island nation. Cuba is dependent on both exports of commodities and … Read more
The path to investing in Cuba is as colorful as the island nation’s history. For Americans, in particular, one needs to sort through all the various US sanctions before evaluating Cuba’s own complex rules and restrictions. And for non-Americans, the US Helms-Burton Act provides for severe penalties for tripping up this law – in fact, … Read more
By the Cuba Journal staff It may be from a rapid influx of new visitors or the country’s recent lightening of foreign investment restrictions — but Cuba’s economy is booming. The country posted a 4.7 percent growth in GDP in the first half of 2015, the government said this week, which would make it one of the … Read more
by Simons Chase According to economic development theory, technology transfer and deregulation hold great promise as a pathway for developing countries, like Cuba, to lift incomes, stimulate foreign direct investment and enhance quality of life. To date, the ligature between this type of neoclassical growth model and actual results has been government policy supported by … Read more
Despite President Obama’s recent initiative to normalize bilateral relations, US Congress remains a major obstacle to Cuba’s decades long political and economic estrangement. The Helms-Burton Act in particular requires outstanding claims against Cuba to be resolved before sanctions are lifted – and also limits executive authority to fully lift sanctions until Cuba’s government is democratically … Read more
Above: the Melia Cohiba hotel in Havana By the Cuba Journal staff Is now the time to invest in Cuba? The answer is yes, but with conditions; investment will take time to materialize, it seems. An event this week at the Brookings Institution, “Rethinking Cuba: New opportunities for development,” assembled high-level Cuba experts to look … Read more
