CubaTrade-January-Flipbook

panorama
Deals, events
and transactions
of note for trade
and investment
in Cuba
Castro: Too many pressing issues to exit just yet
Castro to stay in power past February
The Cuban parliament announced it will
extend the National Assembly session
until April 19, which means Raúl Castro
will stay on as president for at least two
more months than previously planned.
State-controlled media reported that
the decision was made because Hurricane
Irma forced a postponement in the
already-delayed electoral cycle that was
scheduled to end with the selection of
Castro’s successor on Feb. 24. First Vice
President Miguel Diaz-Canel is widely
considered to be the most likely successor
to Castro.
detentions is happening largely because
the Obama administration ended the “wet
foot, dry foot” policy that gave Cubans
who arrived on U.S. soil without a visa a
pathway to permanent residency.
Castro calls on Cuba to unify dual
currency system
During remarks to the National Assembly,
Raúl Castro once again called on Cuba
to unify its two currencies. He said the
dual-currency situation “cannot be delayed
any longer” and will complicate the country’s
external finances in 2018. Although
it won’t resolve all of Cuba’s economic
difficulties, Castro said it is the “most decisive
process” to advance reforms that were
initiated under his rule.
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Cuba reports economic growth in 2017
Minister of the Economy Ricardo
Cabrisas told lawmakers that the country
rebounded from a recession in 2017. He
said Cuba’s GDP increased by 1.6 percent
in 2017, which is significantly higher than
what many economists projected. He attributed
the growth to strong performance
in the construction, tourism, transportation,
and agriculture sectors.
Cubans in the U.S. to be deported
As of Dec. 9, there are more than 37,000
Cubans in the U.S. with final deportation
orders, according to U.S. Immigration and
Customs Enforcement (ICE) figures. An
agency spokesperson also said there are
nearly 1,700 Cubans in detention centers.
The increase in Cuban deportations and
More regulations on the private sector
Mariano Murilllo, head of the Cuban
Communist Party’s reform commission,
announced new restrictions on
the country’s burgeoning private sector.
He said private cooperatives can only
operate in the provinces where they are
located and that a member’s income can
be no more than three times the income
of the lowest-earning member, according
to state-controlled media. Business
licenses will also be limited to a single
activity per entrepreneur, which prevents
scenarios such as one person running
a bed-and-breakfast and a restaurant.
Murillo said the changes were made to
“give order, and not limit, the non-state
sector.”
U.S. visas for Cubans plummet
The U.S. is processing fewer visas to Cubans
in the wake of the State Department
withdrawing 60 percent of its Havana
embassy staff in response to mysterious
“attacks” that harmed U.S. diplomats. The
U.S. processed 376 non-immigrant visas to
Cubans in October, which is significantly
lower than the nearly 2,000 that were
issued in July and in August. Of those 376
nonimmigrant visas, the Havana embassy
@
WED • MAY 23 • 8PM
MORSANI HALL
STRAZ CENTER
PLAYING IT FORWARD SINCE 1987.
800.955.1045 • STRAZCENTER.ORG
Events, days, dates, times, performers and prices are subject to change without notice. Handling fees will apply.
12 CUBATRADE JANUARY/FEBRUARY 2018