Several diplomatic representations of Latin American countries in Cuba resumed their consular services. From now on they will be charged in foreign currency after they will be temporarily suspended due to a regulation of the Central Bank of Cuba (BCC).
The diplomatic mission of Panama on the Island resumed several consular services from this Wednesday with rates still expressed in United States dollars (USD), but which had to be paid in euros through the Banco Financiero Internacional (BFI) at the exchange rate established by that institution.
The representations of Ecuador and Brazil will also charge services in euros, while Mexico will do so in Freely Convertible Currency (MLC), a virtual currency backed by foreign currency that is used only in Cuba and appeared at the end of 2019, clarifies the Spanish agency. Eph. The consulate of Spain recently reported that it would collect its services in euros.
Most of these embassies had temporarily suspended their consular services on June 10, based on the regulations imposed by the BBC that prevented them from converting income from procedures charged in Cuban pesos (CUP) into foreign currency.
Embassy of Panama in Cuba temporarily suspends consular services due to new banking regulations
The regulations allow each embassy to choose the way to charge for its services between doing so in foreign currency or Cuban pesos. The document added that the embassies and consulates that decide to charge in cup could only “deposit the funds in an account in that currency”, and that “transfers to accounts in freely convertible currency, nor payments abroad could not be made from them. ».
The measure prevents them from transferring to their countries the money obtained as consular collection for the services they provide, and the decision is influenced by the disparate Exchange rates that currently operate in the country, at the rate of one dollar for 24 CUP officially, when in the informal market the US bill exceeds the value of 100 CUP.
The exchange of national currency for foreign currency at the official rate and the departure of these currencies from the country was disadvantageous for Cuba, according to some sources consulted by Eph. After the announcement of the suspension of services, the Cuban Ministry of Foreign Affairs (Minrex) of Cuba he claimed that he was “in communication” with those legations.
Efe/OnCuba.
