The Central Bank of Cuba (BCC) issued a resolution that allows the island’s non-residents to open bank accounts in U.S. dollars, to buy in stores created by the government since last October that sell products in this currency.
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If opening and maintaining a private business was already difficult in Cuba, the COVID-19 epidemic now places new obstacles for Cuban entrepreneurs, forced to reinvent themselves to survive an unprecedented crisis from which, despite everything, they could emerge stronger.
The Caribbean countries of Barbados, Belize and the Bahamas, among the preferred playgrounds for the world’s wealthiest bankers, may soon become known instead for Wall Street’s dark side: Debt crises.
Economic forecasts have become outdated in a matter of two months. The modification of the scenario has been so abrupt that international organizations and specialized entities only now begin to modify their forecasts. All forecasts should be taken with caution, because the uncertainty is very high.
The latest economic data indicates that travel in the U.S. has a long way to come back from the coronavirus crisis: weekly travel spending in the U.S. has fallen 85 percent from the same point a year ago.
Through his platform eCaribbeanOnline, the Trinidadian businessman wants to show that Caribbean-made products are comparable to what is produced internationally.