Cuba is going through its worst economic crisis in 30 years. Since 2020, Cubans have suffered falling wages, deteriorating public services, regular power outages, severe shortages and a growing black market. Hundreds of thousands of people have fled the country.
Cuban annual GDP growth, 2017–2023. Oficina Nacional de Estadísticas e Información, CC BY-NC-SA
The effect of US sanctions
The effect of US economic coercion is less obvious, but no less significant. Cuba has been under a US trade embargo for the past 60 years, but a new stream of measures was introduced under the presidency of Donald Trump (2017–21). Trump’s policies cut earnings from services, interrupted fuel supplies, blocked remittances and deterred foreign investment.
Looking for a way out of crisis
Discontent fuelled by COVID restrictions and widespread shortages resulted in protests, revealing dissatisfaction with how Cuba’s leaders had responded to these challenges. Officials are seen as having been slow to fully acknowledge the government’s miscalculations or the degree of hardship that is being experienced by Cuban households.
As the rate of inflation gradually eases, the government is starting to outline a recovery strategy. With no end to US sanctions in sight, the focus is on reforming the economic system.
I think Cubans should focus more on Bitcoin instead of these government systems or how this fiat system is being manipulated by dollars.
In Cuba there is no culture about bitcoin. Many think that it is just a scam and do not truly understand the potential of bitcoin technology. I think we should start encouraging it from an early age, although age doesn't matter to know it.
Start from yourself, your family, your relatives, your village/town and then see the change.
In Cuba there is a diverse Bitcoin community, present in almost all the provinces of the country, with a large concentration in the capital. There have been 4 editions of the program My First Bitcoin, modified by us to be more in line with Cuban reality, and a good number of meetups have been held, both in person in Havana and also online. You can find us on Telegram https://t.me/Cuba_Bitcoin
👏🏻👏🏻👏🏻👏🏻👏🏻
This is plagiarized from here: https://theconversation.com/economic-crisis-in-cuba-government-missteps-and-tightening-us-sanctions-are-to-blame-220985
Please cite your sources and where you copy text, use
>to indicate it's a quote. e.g.This
> The effect of US economic coercion is less obvious, but no less significant. Cuba has been under a US trade embargo for the past 60 years, but a new stream of measures was introduced under the presidency of Donald Trump (2017–21). Trump’s policies cut earnings from services, interrupted fuel supplies, blocked remittances and deterred foreign investment.Becomes
Thank you so much. I'm new to the platform and I didn't know how to cite it.
I remember hearing that Cubans weren't allowed to use cell phones and/or internet a while back. Is that still true?
Telephones could be used but not everyone had the finances to afford it, there are still people who currently do not have access to it because the cost is very high. As for the internet, it is true that we are in the beginning, in 2018 it began to get a little closer to that world. Currently we all have access to the internet, but there are many websites that are blocked.