Economy & Business - October 2023
CUBA: Small businesses resist digital money
A new government rule, introduced at the beginning of August, requires all transactions worth CUP 5,000 (US$21) or more to be conducted digitally, part of an effort to develop the banking system and give the Partido Comunista de Cuba (PCC) government greater control of monetary policy. However, it has not been well received, with many individuals and small businesses expressing a strong preference for cash.
End of preview - This article contains approximately 900 words
Subscribers: Log in now to read the full article
Not a Subscriber?
Enquire Now