Government assures that cash situation in Cuba is not a consequence of banking

The lack of cash in Cuban banks It is not a consequence of banking, according to a senior official of the Cuban regime on television.

“The ATM network is not the axis of banking. We need it to work correctly, but it is not the axis of banking,” he reiterated.Alberto Quiñones Betancourt, vice president ofCentral Bank of Cuba (BCC).

Interviewed on the programRound table on official television, the BCC director acknowledged that the situation with cash is “critical”, with a high level of demand and low deposits in bank branches, but stated that the priority for the BCC is to have cash available for the population, families, retirees and Cuban workers.

“The Banking Process is the answer to better service to our people,” Quiñones Betancourt reiterated on his social networks.

The slogan is given from the Palace of the Revolution. The response of the Cuban regime to the current situation is the “ordering of monetary flows”, contemplated in Resolution 111 and its series of measures to control the circulation of cash and – without recognizing it – put a stop to the growing and dizzying devaluation of the peso. Cuban (CUP).

The need to achieve results in this sense is so great and urgent that the Cuban regime has fully launched a campaign to promote the benefits and benefits of a process of banking that Cubans, including the “new economic actors,” view with mistrust and generates uncertainty.

“Banking, a process that has been worked on for some years and is implemented gradually, according to the conditions that exist in each locality,” explained Quiñones Betancourt in X, trying to convey confidence in a supposedly well-studied measure, which in the This practice has introduced a new element of instability in the economy (more inflation) and in the monetary flows that it seeks to “order.”

The news director of Cuban Television, the official journalist, joined this campaign.Lazaro Manuel Alonso, who, a week after the Round Table was broadcast, published this Monday a repeating that “The current situation is not a consequence of banking”.

“Banking is necessary and benefits the population. As explained, cash is not eliminated. The objective is to advance, more quickly, in the conditions to make collections and payments without using cash, which is an important step in the computerization of the country," said the Minister of Planning and Economy recently,Alejandro Gil Fernandez.

However,the population watches the process with distrust and the majority consider it a banking “corralito” that, far from solving their daily economic problems, generates greater devaluation of the national currency and contributes to triggering inflation.

Interviewed at the beginning of August by Alonso, the president of Banco Metropolitano,Orlando López Garcés, assured thatThe limits that their offices impose on the withdrawal of cash from their clients “are due to a logistics issue”.

“From a logistics point of view, banks have to cover their cash every day, and that involves the logistics of movement of different units. And of course, it has limits for security reasons,” the official replied.