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The Cuban regime wants to end the self-governing exchange market

The new exchange rate established by the Cuban regime for the purchase of foreign currency is aimed at ending the autonomous exchange market, one of the few spaces of economic freedom and efficiency in the Cuban economy.

The new measure of the dictatorship, raising the exchange rate to one dollar for 120 Cuban pesos (1×120), seeks to boost the capture of foreign currency, a fact that has been recognized by the corrupt officials of the Island. That will not guarantee that the people are only going to sell dollars to the regime because nobody believes in their communist maneuvers anymore.

The intervention of the Minister of Economy of the Cuban regime, Alejandro Gil Fernández, in the Round Table space this Wednesday is one more example of how mediocre the Cuban communist system is.

The minister believes that the purchase of foreign currency at a higher exchange rate will mean an incentive to sell foreign currency to the state, in what can be understood as the regime’s decision to liquidate the informal market that has been operating since last year. It will not be easy for them, and they will soon discover that in an economy there is room for everyone and that those who focus their activity on meeting the needs of others manage to survive, even in difficult and dark times.

The measure will not generate, for the moment, substantial changes in the battered economy of the Island. Its fundamental objective is to steal the dollars and keep them in the coffers of the communists and liquidate the informal exchange market because it cannot even respond to an eventual increased demand in its stores in freely convertible currency (MLC).

The communist regime wants to do immediately with the foreign exchange business of the informal market, and for this, it has decided to allow the purchase of dollars in cash, another clear clue that it is an unproductive, obsolete regime and in its last days. Socialism does not work and will never work.

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José Martí
José Martí
Nacionalista cubano, poeta, filósofo, ensayista, periodista, traductor, profesor y editor.

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