Despite claims by the State Department that opening up U.S. banking to Cuba’s “private” businesses will help spark entrepreneurship on the island, the reality is it will do little to nothing. The communist Castro dictatorship ultimately controls every aspect of the economy in Cuba, including the private sector, and will be the only one who will reap any major benefits from Biden’s unilateral concession. This leaves Cubans wondering, “What now?”
An Op-Ed by Luis Flores in CiberCuba (my translation):
What now?
The new amendments from the U.S. Treasury Department promise to boost Cuban entrepreneurs, but will they really change the life of the average Cuban? Importing products does not create wealth, and without a real economic opening, these measures will only benefit a few. It’s time for the Cuban regime to take action for a change.
The Biden administration has just given a gift to Cuban entrepreneurs. The implementation of new amendments by the U.S. Treasury Department to support them is presented as an attempt to boost the island’s economy. However, we must be clear: these measures, although well-intentioned, are not sufficient to generate a significant change in the life of the average Cuban..
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