Given the permanent lack of currency, the Cuban government ratified on Wednesday its intention of dollarize “Partially” the economy in the short term, and then march in reverse and undertake a disdain process.
He did it in the RadioTevisive program Round tablewhere the matter was addressed in detail, although a schedule for both apparently exclusive programs was not offered.
“We have evaluated international experiences that demonstrate that forced defolization, without the creation of previous conditions, could lead to more negative purposes for the Cuban economy than those facing today,” explained in that space the first vice minister of economics and planning, Mildrey Granadillo de la Torre.
According to the official, the dollarization will be a “short -term, transient and with a gradual implementation” measure, and repeated the argument, wielded by the authorities since the 90s, that the basic purpose is “to capture more currencies for all sectors of the economy “and with it” to energize production for the export sectors. “
On the other hand, he said that “only 10%” of the commercializing network will use the currency in its transactions and ratified “that the Cuban weight is the center of the Cuban financial system and must have purchase capacity.”
“There is dollarization because the failure of the ‘order’ prevents the weight (CUP) from adequately fulfilling the basic functions of a national currency. More than talking about the dollar they should explain what they do to strengthen the weight ”, He had signed up In the X network the Cuban economist Pedro Monreal in a message prior to the program.
According to Granadillo de la Torre, for dollarization, the businesses “linked to retail and wholesale sales” and “closed self -financing schemes for export entities” that demand strong currency for their reappretion and generation of greater exports.
Likewise, another segment chosen was a “group of producers” of the private sector “that are chained with the state sector of the economy,” said the official, in order to generate exports and replace imports.
Customs tariffs will be paid in dollars “in cases determined”
The “dollarized”: tourism and others
In its television speech, the First Vice Minister of the Economics cited several dollarization measures such as the sale of retail fuels in an exclusive network of services, mainly for foreign tourism.
He also mentioned businesses that are in tourist destinations – as the controversial market of 3rd and 70s, within the Hotel Gran Muthu Havana enclosure, viralized in the networks after their surprising opening -, the houses of the Havana and the international pharmacies and pharmacies and optics.
Granadillo de la Torre said that this policy is connected to the “new mechanism for the allocation and management of foreign exchange by the different economic actors”, and with the “resignation of the exchange market”, approved last year through the flotation of the rate of change, but not yet ready.
To support the strategy and projections of the Government, which seek a macroeconomic stabilization of the country, the official cited the reduction of more than 39 % of the fiscal deficit, among the highest in the world and one of the great injuries of the island that feeds the inflation.
However, for a group of experts the chiculation of the deficit is not due to the greater national production of goods and services, but to a radical reduction of public spending, which is accompanied by the progress “in the elimination of unnecessary subsidies in the national economy ”
All this, added to the dollarization in progress and the chronic economic crisis – they have economists and other academics – delves social and economic differences on the expanding island from the so -called “special period” and hits the families of the families of Less income.
Extension of dollarized stores
In the Radiotevisive Space, executives of the Cimex Corporation and the Caribbean stores – given to the foreign exchange – announced that the opening of new establishments in dollars outside Havana is in perspective.
In particular, its presence in the cities of other provinces is expected.
The explanation of the measure responds to the criticisms generated earlier this month It can only be paid in cash or with foreign credit cards.
Ernesto Martínez Hernández, first vice president of Cimex, explained that establishments of this type, and also smaller stores in dollars, must be opened throughout the country, but “gradually, depending on the level of available supply,” review Cubadebate.
“New establishments will not be opened if a stable supply cannot be guaranteed,” said the manager, according to which in those stores there will not only be imported products, but also “chains are planned with national producers and all forms of management of the country ”
In addition, he said that the stores in MLC are main exceed 7 % among all the shops with Cimex and Caribbean stores. ”
The Government defends dollarization as “a necessary process”, with the mlc in mince
On the other hand, Yamilé Álvarez Tejo, head of the Commercial Department of Caribbean stores, defended the use of dollars as a form of payment in tourist facilities, of Laque said had been “a claim of foreign visitors” and has “definitely” an “effect effect Positive in the sale of Cuban products such as Habanos and Ron ”.
Álvarez Tejo also considered that with dollarization he will “jump” in the incentive to national production, because there will be “greater dynamism financial schemes to support the national producer”, although he regretted that it is still “depending a lot on importation ”
Finally, the directive confirmed that there are “contemplated commercial projects that have to do with associations with foreign investors” and with the dollar as a means of payment.
They said “they are representative suppliers” of Cuba that “also become investors since they make certain investments in stores to improve the image, offer initial working capital.”
“In this type of business you have to quickly achieve the return of your investments. That is why they are directly in dollars, ”he justified, although without mentioning concrete examples.
