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Cuba announces surprise reversal of U.S. dollar deposit ban
From Agence France-Presse
Tuesday, April 11, 2023
HAVANA -- Cuba's government on Monday announced a surprise lifting of its ban on U.S. dollar deposits in banks, reversing a policy that had been in place across the communist island nation since June 2021.
"From this moment on, financial and banking institutions will accept cash deposits of US dollars in bank accounts," said a Central Bank of Cuba resolution published Monday in the country's Official Gazette.
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The Cuban government had announced the ban almost two years ago, saying at the time that the move was due to continuing difficulties caused by the ongoing U.S. embargo.
The policy reversal comes as the island faces its worst economic crisis in three decades, with mounting shortages of food, medicines and fuel worsening in recent weeks. ...
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