UNIFYING THE CUBAN PESO: TENTATIVE NUMBERS[i] Luis R. Luis SUMMARY Exchange rate and currency unification is a high priority. Estimates from the national income accounts place the average managed rate at about 3 Cuban pesos per dollar in 2012-2016. Unification is made difficult by the feeble international reserve position of Cuba with assets […]
Cuba’s External Liquidity Crisis Takes Surprising Turns
Cuba’s External Liquidity Crisis Takes Surprising Turns Luis R. Luis Cuba is being pressed by external liquidity shortages for a number of years, the consequence of deteriorating production and export capacity. Stagnant or falling farm output is a prime driver of consumption imports. Receipts on the current account of the balance of payments are […]
Recent Trends in Cuban Migration
Recent Trends in Cuban Migration Luis R. Luis The announcement by President Barack Obama on January 12th that the US is terminating the policy of allowing Cubans that arrive without a visa to remain in the country is a major event for the island’s population and could also have significant economic implications. In […]
Cuba’s Capital Account Of The Balance Of Payments
Author’s note Cuba’s debt-servicing travails hinder access to international capital markets even as the country is steadily improving relations with official lenders in developed nations. In the last decade it has been able to raise medium-term commercial debt solely by private placements to friendly institutions. This in addition to an inactive membership in international financial […]
Understanding Cuba’s Capital Flows
UNDERSTANDING CUBA’S CAPITAL FLOWS[1] Luis R. Luis Cuba has modest access to international capital markets. This in addition to an inactive membership in international financial organizations means capital flows to the island are limited to trade finance and investment from a few partners. Official Cuban data on capital movements is inexistent, even as the […]
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