Central Bank President: "There is more money in Cuba than ever before."

The president of the Central Bank of Cuba (BCC) stated that there is more money in the country than ever before, although it is not reaching the hands of the majority of the population.

Juana Lilia Delgado Portal appeared this Thursday on the YouTube program hosted by Miguel Díaz-Canel, where they discussed the financial crisis that they themselves have created and which is affecting the people.

"It's not that there isn't money in the economy; there is more money than ever, but the flow of that money has shifted. There is more money leaving the banking system than returning; this disrupts the entire cycle of cash movement, making it difficult to meet cash demands," he admitted.

"Another characteristic is that the cash that leaves the banking system ends up concentrated in the hands of a few, and that is one of the reasons we say action needs to be taken to ensure that this cash returns to the banking system through the appropriate channels," he added.

Access to cash in Cuba is a serious problem. It is an ordeal for people to withdraw their salaries and pensions, as they have to endure long lines at banks or ATMs due to the limited availability of money.

However, Díaz-Canel continues to push his unsuccessful banking process, despite the consequences it has caused and the dissatisfaction among the people.

"The government has yet to resolve the issue of ATMs; the situation for obtaining cash from banks and ATMs is very critical. People are suffering—what's the point of all this banking if it’s a problem to withdraw money?" These were some of the opinions from the public that the leader read, aware of the difficulties that Cubans face in their daily activities.

In Havana, a group of affected individuals reported that they had been waiting for three days to access a functioning ATM.

"There is no money, the ATMs are broken, and when they do put in money, it's just a little," an elderly man told the DW Español channel.

The cash shortage is so severe that drastic measures are being implemented in some provinces.

In Sancti Spíritus, the Banco de Crédito y Comercio (BANDEC) decided not to restock the ATMs at its main branch.

According to the newspaper Escambray, citizens in need of cash are forced to stand in long lines to be served at the teller's office within the branch, where they can withdraw up to 5,000 pesos.

In April, the Central Bank advised users that, due to the ongoing shortage of cash in ATMs, they should go to stores or other commercial establishments of the Ministry of Domestic Trade (MINCIN) to withdraw cash from their bank accounts through the "Extra Cash" service.