Cuban economy needs ‘urgent changes’ as US blockade deepens crisis, says president
Summary
Cuba’s president, Miguel Díaz-Canel, said the country’s economy needs urgent changes because it is in a severe crisis made worse by a US oil blockade. He suggested looking at China and Vietnam as examples to open the economy and create wealth while sharing it fairly.Key Facts
- Cuba is facing a serious economic crisis with power cuts over 30 hours and shortages of food, fuel, water, and medicine.
- The US oil blockade, started by President Donald Trump in January, has deepened Cuba’s economic problems.
- President Díaz-Canel admitted that problems inside Cuba, like slow government work and rules that stop production, also cause difficulties.
- Reforms are planned to boost the private sector and open the economy more to the world.
- These reforms have the support of former president Raul Castro.
- Díaz-Canel said changes are necessary even if not everyone agrees.
- Cuba has hoped to blame the US embargo for its troubles but now acknowledges internal issues as well.
- It is unclear if the US will accept these reforms or want more changes to Cuba’s economic system or leadership.
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