Havana/The official newspaper We will overcomeorgan of the Communist Party in Guantanamo, has described the phenomenon of dollarization with an unusually critical tone. The text emphasizes the gradual disappearance of freely convertible currency stores (MLC), as well as the prominence of bank cards, especially the classic, which allow buying in dollars without queues or shocks. Some interpret that change as the prelude to a greater transformation.
What he Official Gazette He describes as “a virus” extended to the rest of the country from Havana. The emblematic market 3rd and 70in the capital, he began accepting green bills, and almost immediately the stores in MLC began to show more shortage than usual, while relatively assorted premises arose that operated only in physical dollars and with the new cards.
The informal exchange market, always sensitive to the signals, reacted quickly. The difference between the virtual “convertible currency and the physical currency expanded, becoming an abyss. On the street, a dollar in cash is worth much more than an electronic dollar in MLC.
The story of ‘wins’ comes a little late to a problem that independent media have already crumbled many times.
The story of We will overcome It arrives a little late to a problem that the independent media already They have crumbled many times. First, discounts on non -perishable products; then, a temporary closure with “maintenance” poster and some cosmetic touch -ups; Finally, reopening as a dollar store. Inside, sellers confirm what official channels have not said: the merchandise is settled and, by exhausting the inventory, the establishment reopens operating exclusively in US tickets.
For those who still keep savings in MLC or receive payments in that virtual currency, the situation is discouraging. The supply is limited to low -demand items that many buy hurriedly so as not to lose everything. The feeling of helplessness grows and, with it, the perception that the MLC is condemned to disappear.
On the street, the matter is one of the most discussed topics. It is commented on in queues, in public transport and on social networks. However, silence predominates. The text of We will overcome Criticism, without appointing them, those responsible for the communication policy, noting that the people do not receive clear or timely explanations about processes that directly affect it.
The only recent official reaction from the Central Bank of Cuba (BCC), which came out to deny a rumor about the imminent disappearance of this virtual currency. The speculation had circulated after maintaining the main payment platform of the country. In a brief statement, the entity assured that MLC operations continued, that the interruptions were part of routine technical works and called to be informed by official channels.
The denial did not dissipate the concern. As noted We will overcomeit is difficult to blame the population for believing in rumors when truthful and timely information is scarce. In addition, the episode evidenced a lost opportunity to address reality. In three decades, the Cuban regime has created and eliminated the CUC, has allowed and prohibited the physical dollar, has introduced and restricted virtual currencies, and is now turning the currency of the “empire” into the only national currency Valid on the island, while condemning the MLC to irrelevance, all in the midst of a sustained devaluation of the Cuban weight.
A monetary “solution” is introduced, it is presented as stable, its use is limited, it is devalued and, finally, it is replaced by another
The historical count itself that makes the Guantanamero medium – an otusual in an organ of the party – draws a repetitive cycle. A monetary “solution” is introduced, it is presented as stable, its use is limited, it is devalued and, finally, it is replaced by another. The MLC, which was born as a digital equivalent of the dollar and with the promise of stability, is now displaced by direct transactions in physical currency.
In Guantanamo – as in the rest of the island – each new store closure is interpreted as another step towards total dollarization. Consumers prepare, change MLC for dollars in the informal market to very unfavorable rates and prioritize to spend their virtual balances before they lose value. The general expectation is that, sooner rather than later, the MLC will be history.
The article of We will overcome He does not come to pronounce against that possible transition, but his tone and structure say everything. The use of expressions such as “extremeunication” or “life support” to refer to the virtual currency breaks with the usual triumphalist rhetoric and suggests that, in the provincial official press, some journalists are tired of inventing fictional advances or shutting up before the reality that, like everyone else, also explodes them in their face.
