Posts Tagged ‘CUC exchange rates’

CUC – Cuban Convertible Peso to be eradicated by Cuban Government

Written by: Staff, on November 7th, 2009

In another sign that Cuba´s economy is walking a financial tight rope the government is set to abolish the CUC or Cuban Convertible Peso by March 2010.
 
Introduced as the brain child of Fidel Castro in a measure to eradicate the U.S Dollar and also reduce the value of remittances, the CUC was an effective method [...]

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A look into Remittances - an improbable way forward for Cuba

Written by: echevar, on August 12th, 2009

Back in the early nineties a report was submitted to Fidel Castro concerning the threat against national security the growing dependence on foreign remittances was becoming for Cuba´s economy. The main preoccupation stemming from a government sanctioned ban on approved US remittances by George Bush. In many respects this transpired under Bush who capped remittances [...]

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