Cuba: Select state businesses operating at a 10-to-1 exchange rate

toda la academia nacional y extranjera dedicada al estudio de los temas cubanos, en particular los ekonomistas, siguen aferrados a la tesis clasica que la valoracion del peso cubano respecto al cuc [y a las divisas extranjeras] pasa inevitablemente por la reanimacion economica, el aumento de la productividad y la eficiencia, sin comprender que el sistema monetario cubano no actua en un marco economico donde la valoracion de las diferentes monedas se asocian a la oferta y la demanda de las mismas, si no que las mismas son resultados de decisiones politicas -con connotaciones sociales y economicas sin dudas- como parte del mecanismo de control y coercion social de la elite gobernante.
corra un par de lugares a la izquierda el "punto" insistiamos un pequeno grupo por alla a inicios de los 90 cuando la etapa de la inflacion galopante era de 4 digitos.
sugerencia: no atesoren grandes sumas de divisas extranjeras y cuc pues en cualquier momento comenzara el proceso de devaluacion y perdera parte de sus activos monetarios, asi, porque le sale de los cojones y se enterara cuando sea muy tarde.
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Pavel Vidal, a former Cuban Central Bank economist now at Colombia’s Javeriana University, told The Associated Press that a pilot program is being launched with select state businesses operating at a 10-to-1 exchange rate.

The businesses are in key sectors such as sugar, hotels and non-agricultural cooperatives. There has been no mention in the official media, but Vidal said it is happening and it’s a good step.

“I think it’s great because the elimination of the double currency must be gradual,” he said.

Even incremental change may be tough to pull off, and requires the unraveling of Byzantine accounting practices that effectively allow state companies to purchase dollars at a fraction of what ordinary Cubans pay for them.

While the rate in exchange houses is 24 pesos to 1 convertible peso, or CUC, the Cuban government treats them as equal in official accounts, meaning state entities are getting them at a 1-to-1 subsidized rate.

“Whoever is getting these dollars at one-to-one is doing well, and that’s the official sector,” said Rafael Romeu, former president of the U.S.-based Association for the Study of the Cuban Economy.

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