Central Banking

Cuba: coming in from the cold

cuba-che-guevara-painting

In recent years, the Cuban government has introduced a number of economic reforms, intended to improve economic performance and increase the scope for small-scale private sector activity. These appear to have been motivated by a low rate of national investment, limited productivity growth and poor performance of public enterprises, as well as the risks stemming from Cuba’s dependence on assistance from foreign governments. Cuba previously experienced a wrenching crisis in the early 1990s, when i

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