Cuba has been experiencing a worsening economic crisis for two years, which the government blames mainly on U.S. sanctions and the pandemic, while its detractors cite incompetence and a Soviet-style one-party system.
A combination of sanctions, inefficiencies and the pandemic has shut down tourism and slowed other foreign revenue flows in a country dependent on them to import the bulk of its food, fuel and inputs for agriculture and manufacturing.
The economy contracted 10.9% last year, and 2% through June of 2021. The resulting cash crunch has spawned shortages that have forced Cubans to queue for hours for basic goods throughout the pandemic.
No comments:
Post a Comment