He Metropolitan Bank of Cuba (BM), a financial institution with a presence only in Havana, has published a tweet on its profile on the social network "crap".
The publication shared by the WB seems to have come from some “thinker” from the island's Economist Association. In this tweet they are dedicated to blaming the independent media ElToque, which publishes daily the representative rate of currencies in Cuba, due to the devaluation of the Cuban peso.
According to this Cuban bank, what they mention in X are “some notes on the induced inflation operation carried out by the US against Cuba using the platform: ElToque”.
Through various numerals, They try to convince that the high prices in Cuba, the growing shortages, the high levels of poverty have been created by a group of Cuban journalists.
“It is not the state control or deficiency that exists that generates the high value of the rate offered ElToque, otherwise it is his hand and visible intentionality from computer tools of dubious origin”, they have dared to say in the post that has raised alarms due to the lack of depth in the analysis, especially coming from an institutional account.
At your discretion ElToque “alters the monetary scale, a function of money, to influence prices.” In addition, they produce “the artificial increase of the dollar to reach approximately 480-500 pesos per dollar by July 11, 2024, based on the current growth rate,” with the aim of provoking a “social explosion.”
The activity carried out by this independent media was also compared with the Venezuelan company Dólar Today, which according to the WB is the cause of inflation in that South American country. They also make comparisons with Nicaragua and Argentina, countries with high inflation rates in Latin America.
The worrying effects that these accusations have caused are striking.
Only in the comments section of the publication itself did a user invite them to “demonstrate how their main economic indicators are increasing and not accuse an independent media of the lack of production that exists in Cuba.”
Another person wondered if “the revolution is that “strong” that a group of people from a computer can plunge an entire town into misery?”
Prominent Cuban economists could not go unnoticed by the words published by the World Bank.
The Cuban economist Carlos L. Martinez He led an extensive response thread, due to what he considered “the amount of nonsense that a person at the head of a relatively important institution in Cuba can say seems infinite.”
With supported figures and criteria, Martínez's main conclusion was that “a simple thought and conclusion is enough to deduce that the person who wrote this is more of an ideologue than an economist, or even an economics fan.”
His words were supported by the prominent economist Pedro Monreal, who called for “necessary literacy for the ‘bankers’ of the Metropolitan.”
In a publication of ElToque also shared in practically currencies.”
They included among their causes the emigration of more than 600,000 Cubans in two years, the creation of Micro, Medium and Small Enterprises (Mypimes) without the State providing them with the conditions to buy foreign currency. Additionally, they cited the lack of support for freely convertible currency (MLC) accounts introduced with the aim of detracting from the local currency.
Among other things, they discussed the scarcity of cash, the increase in the price of fuel, electricity and transportation, forced banking, all measures taken by the government and not by ElToque.
But this attitude of blaming others and not one's own decisions is common practices in the Cuban regime, knowing that among its population there is widespread discontent due to the fruitlessness of its economic policies.
What do you think?
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