Marrero attacks the exchange rate, once again

Among the list of inflationary measures, threats and attacks on MSMEs, criticism of other people's prices while their own increase, etc., Prime Minister Manuel Marrero Cruz attacks El Toque (without naming it) and others for publishing the exchange rate of reference of the Cuban peso to the dollar.

The regime insists that the exchange rate of the Cuban peso cannot be determined outside of Cuba by someone who is an "enemy" of the Cuban revolution. They repeat that the reference exchange rate published by these media is false, speculative and does not reflect reality.

This statement is false, and they know it. However, they insist on the illusion that they can establish the "true" exchange rate of the Cuban peso, promising to do so next year. They already tried this in 2022, and they did not achieve much, fundamentally they created a clandestine market for selling shifts, dealing and “negotiation”.

In August the governmentset the exchange rate at 120 Cuban pesos per dollar, creating a mechanism in the CADECAS to change to that rate. However, this was short-lived. There were anecdotes of people who waitedmore than 20 days to exchange pesos for 100 dollars. Currently, it is almost impossible to buy dollars at 120 pesos. If the rate published by El Toque is false and that of the real government,Why doesn't the government sell dollars at 120?

By 2024, the government plans to publish a new rate, possibly around 200 pesos or more. No matter what they declare, this rate will confirm what we already know: the price of the dollar in Cuba is not 120, and El Toque is right.

But it will not be 200, 220 or any figure established by the National Bank of Cuba or Marrero. In an economy where the government continually prints bills to finance itself, where the personal economy depends more on MSMEs and private businesses (not so much because of their growth, but because of the government's abandonment of the minimum services of food, medicine, clothing and footwear, transportation or housing), any rate lower than that used in the informal market will be ineffective. It already happened in 2022 and will be repeated in 2024.

Perhaps in 2026, if we are still carrying the torment of these incapable people, the government will try again to control the exchange market by putting the peso at 270 or 280 (as it is today), but by then the peso could be at 400, 500 or any other value. Because given what we are seeing these days, those who govern Cuba do not have the slightest idea about economics or how to get Cuba out of the filthy and pestilent hole into which they have put it.