the cuban president Miguel Diaz-Canel highlighted this Wednesday that several countries in Latin America and the Caribbean agreed define commercial facilities for an exchange of goods in “better conditions” and other measures against inflation.
Díaz-Canel reported from Twitter that they also agreed to “logistical, financial measures” after intervening electronically at the summit against inflation called by the president of Mexico, Andrés Manuel López Obrador.
In a declaration of the Summit of Presidents held today, we agree to advance in the definition of commercial facilities, logistical, financial and other measures that allow the exchange of products of the basic basket and intermediate goods to occur in better conditions.
— Miguel Díaz-Canel Bermúdez (@DiazCanelB) April 5, 2023
“In a declaration of the Summit of Presidents held this Wednesday, we agreed to advance in the definition of commercial facilities, logistical, financial and other measures that allow the exchange of basic basket products and intermediate goods to occur in better conditions,” he said.
Díaz-Canel pointed out that another of the results was to create a technical working group to “determine regional cooperation measures and establish an action plan that facilitates trade, technology transfer, maritime and air connectivity, and the creation of capabilities”.
He also thanked Mexican President Andrés Manuel López Obrador for inviting him to the meeting “in which we agree with proposals aimed at facilitating and expanding the exchange of goods, and we call for promoting cooperation to increase food production and access to it.”
President of #Cuba?? @DiazCanelB pronounced at the Summit of Presidents of Latin America and the Caribbean in favor of:
▶️ Facilitate and expand exchange of goods
▶️ Eliminate tariffs and other non-tariff barriers
▶️ Go to the barter trade pic.twitter.com/xwkzSw3USr— Josefina Vidal (@JosefinaVidalF) April 5, 2023
At the meeting, in which other Latin American presidents intervened, Díaz-Canel also suggested resorting to barter trade or barter, Cuban Vice Foreign Minister Josefina Vidal explained on Twitter.
“Although it seems that (inflation) is subsiding, it is still a permanent threat, because it greatly affects the popular economy. We are increasing the salary like never before, but if we do not control inflation, we cannot improve the purchasing power of the people, ”López Obrador explained in his initial speech, quoted by the agency efe.
The summit had as a prelude to a meeting of foreign ministers and ministers on March 27 where economic and commercial proposals were discussed to mitigate the price increase in the basic food basket.
The Cuban government does not regularly publish a Consumer Price Index, but it recognized that in 2022 year-on-year inflation in the formal market reached 39.07% (that of the informal market was much higher). This means that in the last two years the prices in the formal market have doubled.
Cuba experiences a sustained rise in the prices of products, especially food, since the application of the “Ordering Task”, an economic and monetary reform implemented at the beginning of 2021.
Cuba joins the anti-inflationary plan for Latin America announced by López Obrador
The package tried to eliminate the dual currency in the country, but ended up generating perceptible imbalances in inflation and a hidden dollarization of the economy.
Cuba is especially sensitive to the increase in food prices in the international market because it imports about 80% of the food it consumes, according to United Nations data, he points out. efe.
Efe/OnCuba.
