Crisis Hits Cuba as Cash Shortage Plagues Citizens and Economy

2023-08-09 14:21:23

Inflation, the lousy economic policies, the rise in prices, the increase in foreign currency on the black market and now the shortage of cash, monetarily mark the “day to day” of Cubans on the island.

The crisis has reached the point that ATMs have no money, workers cannot extract payment from their magnetic cards and salaries are not paid because banks have no liquidity. In the midst of this situation, thousands of Cubans throughout the country are torn between using their savings, borrowing or surviving while waiting for their salary, which doesn’t mean much either.

Shortage of cash in Cuba, another consequence of inflation

Recently, the announcer and director of radio and television programs in Guantánamo, Yodalis Blet, pointed out on her Facebook profile that she had not been able to collect her salary because there was no cash in the banks of the eastern capital city. This was something that the state press itself had recognized, pointing to the Culture, INDER and Education sectors as the most behind in receiving their payments.

“It’s like things are being snatched out of your hands. There is no money in Guantánamo for me to collect the transfer that is sent from Havana. There is no money”, emphasized the communicator who works for state media.

On social networks, Cubans continue to denounce the evident lack of liquidity. A situation that the Central Bank of Cuba (BCC) now wants to alleviate, with its so-called “banking” that will later lead to other problems, especially with private investors, who are currently moving the most capital.

“Cuban life is exhausting and exhausting. I have been trying to get money from the ATM for three days,” said a user from Havana. Another reported that in the capital’s Vedado there were very few authorized ATMs, because according to those responsible, there was no cash to supply the others available.

“It’s too much, everything is suffering in this country”, “I even had to borrow money. This is hell, a martyrdom” or “I am retired and I have not been able to get my money”, were some of the reactions in this regard.

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