Cuba's FM ratifies relevance of rearranging monetary system

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Cuba's FM ratifies relevance of rearranging monetary system
Fecha de publicación: 
20 October 2020
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Havana, Oct 20 (Prensa Latina) Cuba's Foreign Minister Bruno Rodriguez ratified on Tuesday the benefits of rearranging the country's monetary system, by creating incentives to increase efficiency and competitiveness in the business sector.
On Twitter, the FM cited the words of Cuba's President Miguel Diaz-Canel, regarding the strategy to improve the country's economy.

The regulation 'encourages the substitution of imports and production chains efficiently and allows greater transparency in accounting,' the minister added.

As recently released on the radio-television network, one of the goals of monetary unification is to achieve greater business efficiency by stimulating exports and the consumption of national products.

The head of the Permanent Commission for the Implementation and Development of the Guidelines of the Communist Party of Cuba, Marino Murillo, explained that, according to the forecasts, exporting firms will improve their situation and some will double or triple profits. The start of the monetary reorganization process in Cuba has not been made public yet.

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