Redcuban1959 [any]

Authorities have designed several mechanisms to take advantage of the economy’s partial dollarization. During a televised roundtable on Wednesday, Mildred Granadillo, the Vice Minister of Economy, explained the characteristics and scope of the “partial dollarization” of the Cuban economy, which has accompanied the recent opening of stores operating directly in U.S. dollars in the country.

“One of the main restrictions facing the economy is the lack of foreign currency,” she said, indicating that the Cuban government decided to address this deficit through the partial dollarization of the economy— a temporary measure that will be implemented gradually while its effects are monitored.

President Miguel Diaz-Canel has implemented a set of measures aimed at capturing and managing foreign currency to boost Cuban output by promoting linkages between different productive sectors. As part of the strategy to attract foreign currency, the Cuban government has authorized the opening of commercial establishments that sell products in U.S. dollars. Initially, these businesses were concentrated in the most tourist-heavy areas, but their gradual expansion to the rest of the country is expected.

Authorities have also allowed the acceptance of cash in U.S. dollars in certain establishments with the intention of channeling the circulating dollars that are currently outside the formal financial system. The Diaz-Canel administration has designed several mechanisms to direct remittance inflows into the state banking system. In this regard, authorities have strengthened banking formalization and the use of electronic payment methods.

Currently, the Cuban banking system maintains operational accounts in Freely Convertible Currency (MLC) and their associated cards, allowing citizens and businesses to carry out transactions in foreign currency. Additionally, authorities have introduced new financial products, such as the prepaid card from the Bank of Credit and Commerce, which is designed to facilitate transactions in U.S. dollars.

Through these monetary and financial policies, Cuba aims to increase the production of goods for both domestic consumption and export. However, the Economy vice minister emphasized that the process of partial dollarization does not mean that the national currency has ceased to be the primary component of the Cuban economy.

To illustrate this point, Granadillo noted that over 90 percent of retail commercial transactions in 2025 are expected to be conducted in Cuban pesos. “Only 10% of commercial transactions take place in the foreign currency sales network. The Cuban peso remains the core of our financial system and must have purchasing power. That is why we must move forward with a set of decisions linked to the macroeconomic stabilization program,” she said.

“Generating foreign currency is of vital importance to reviving the production of goods and services because Cuba has an open economy that is highly dependent on imports. If the necessary foreign currency is not available to carry out these imports, it will be very difficult to foster all the linkages planned as part of the government’s program.”

Social organizations loyal to Morales reiterated that the former Bolivian president is eligible to run for office again. On Wednesday, social organizations loyal to former Bolivian President Evo Morales announced that the leftist leader will participate in the presidential elections in August, but not as a candidate for the Movement Towards Socialism (MAS).

Farmer leader Pedro Llanque explained that the “Evista” organizations will hold a congress from March 29 to 31 in the Cochabamba department to “refound” their political instrument. “We are forming a national-level alliance to determine with which party we will participate. Once we reach a decision, we will share the proposal with all sectors nationwide,” Llanque stated.

This decision comes after a constitutional ruling ordered the Supreme Electoral Tribunal (TSE) to recognize Grover Garcia, an ally of Bolivian President Luis Arce, as the president of the MAS party. In practice, this ruling stripped Morales of influence over the party he founded.

The constitutional ruling validated the MAS congress held by “Arcista” sectors in May 2024, disregarding what took place in October 2023, when a congress of social organizations in the Tropic of Cochabamba proclaimed Evo Morales as the “sole candidate” of the MAS party. Llanque said the decision to participate with another party arose from an emergency meeting in which it was unanimously resolved that Morales is the “only legal and legitimate candidate” of the Bolivian left.

Organizations loyal to Morales reiterated that the former Bolivian president is eligible to run for office again, despite a constitutional ruling from December 2023 that states re-election is only permitted once. This provision would prevent Morales from running again, as he governed Bolivia for three consecutive terms (2006-2009, 2010-2014, and 2015-2019).

Meanwhile, Arce-controlled sectors announced that on March 21, they will hold a congress of the ruling MAS party in El Alto City aimed at reforming the party’s statutes to enable its “renewal.” Subsequently, the MAS ticket for the presidential elections will be announced. One possibility is that President Arce will run for re-election as the MAS candidate.

‘What he needs to do is respect the sovereignty of other countries,’ said the Brazilian leader. On Thursday, President Lula da Silva warned that Brazil would respond with “reciprocity” if U.S. President Donald Trump decides to impose tariffs on Brazilian products.

“It’s very simple. If he taxes Brazilian products, there will be reciprocity in Brazil when it comes to taxing products imported from the U.S.,” he said, noting that he expects “Trump to respect Brazil.” “I’m not worried if he’s going to fight over Greenland, the Gulf of Mexico, or Panama. What he needs to do is respect the sovereignty of other countries,” said the Brazilian leader, who reiterated his desire to strengthen cooperation with the U.S., one of Brazil’s main trade partners. “For my part, I want to improve that relationship,” Lula said, emphasizing that his country is interested in exporting and importing more if necessary.

Recently, Trump called Brazil a “tremendous tariff creator” and accused it of trying to harm the U.S. economy. “We will impose tariffs on countries that really want to harm us. They want to harm us, even though they basically want to do good for their country. Look at what others are doing: China is a tremendous tariff creator, India, Brazil, and so many other countries,” the U.S. President said.

China, India, and Brazil are three of the countries that make up the BRICS forum of emerging economies, along with Russia, South Africa, Egypt, the United Arab Emirates, Ethiopia, Iran, and Indonesia. Lula hopes to meet with the Republican leader at the next G7 summit if invited, or during the United Nations General Assembly in New York.

The Secretaries of State, Education, and Homeland Security will report on activities that could be considered ‘anti-Semitic’. On Wednesday, U.S. President Donald Trump signed an executive order to identify and deport foreign students and professors who participated in pro-Palestinian protests.

He instructed the Secretaries of State, Education, and Homeland Security to ask universities to monitor and report on activities by foreign students and professors that could be considered “antisemitic.” His executive order includes several provisions regarding antisemitism but focuses particularly on the protests that erupted on U.S. campuses, where approximately 3,100 people were arrested last year.

Between April and June 2024, thousands of students and academics across the United States protested against the genocide in Gaza and against Washington’s support for Israel. “Jewish students have faced an unrelenting barrage of discrimination; denial of access to campus common areas and facilities, including libraries and classrooms; and intimidation, harassment, and physical threats and assault,” the order said referring to the 2024 protests.

However, members of the American academic community have repeatedly argued that the protests were not intended to be anti-Semitic, but rather sought to highlight the consequences of the Israeli military offensive in Gaza, where the Zionist army killed more than 47,000 Palestinians. The Council on American-Islamic Relations (CAIR), one of the country’s leading organizations defending Muslim rights, warned that it would challenge the order in court if it is implemented.