In the midst of its desperate offensive to capture foreign currency, the Cuban government opened a new store in Havana that operates in dollars, dedicated to the sale of personal hygiene and perfumery products.
The establishment, managed by the mixed company MCM Camacho S.A., is located on the Bulevar de San Rafael, where the Giralt appliance store used to be and which sold recycled clothing a few years ago.
Virgilio Arencibia Villa, the company's treasurer, explained that the store will initially operate as a perfume shop, but that a market area will be opened as circumstances allow.
"It operates with cards in USD, both international ones and those offered by the CADECAS network in the country," he said.
According to Arencibia, MCM Camacho was formed with the partnership of the Cuban partner Albus and the Spanish counterpart Camacho, a supplier whose products are well-known in Cuba. In the next phase, it will expand to include wholesale trade.
"There is stability in supplies, national production comes from Camacho, and the products they bring are from Spain, also imported by Camacho, and they have very good quality," he emphasized.
The television report was shared on Facebook by the portal Cubadebate, where hundreds of Cubans expressed their discontent with the opening of the establishment, which is part of the dollarization process being promoted by the government.
"Are they going to pay in USD? Otherwise, those stores are not for the people," questioned an engineer.
"Now we have to adapt and endure having it rubbed in our faces that a worker needs to be paid the basics in dollars? How outrageous!" protested a young man.
"One step closer to sovereignty and independence! The audacity of this government is boundless!" stated an emigrant.
"If the goal is to attract foreign currency, why not do it through banks and exchange houses and implement all domestic trade in our 'sovereign' national currency? This includes hotel and extra-hotel services, offered equally to foreigners and nationals, all in national currency. Some stores in MLC, others with USD cash, and others empty but in CUP. That doesn't make much sense," a young woman pointed out.
"Capturing foreign currency isn't bad; what's bad is obtaining it at the expense of people's basic needs. This is supposedly in a nation that preaches social equilibrium to the world. And if there’s no other way to generate the currency, we are not to blame for poor management by the leadership," stated a resident from Havana.
This week, a report presented on the program Mesa Redonda informed about the inauguration of a store at the central intersection of 23 and C, in Havana, aimed at selling in dollars, featuring national products from state entities and small and medium-sized enterprises.
The establishment, sponsored by the Ministry of Domestic Trade (MINCIN), operates with a wholesale sales service, and in a second phase, it will allow direct purchases by the public using dollar cards. In the future, cash payment is expected to be incorporated.
The MINCIN has announced the opening of 50 new dollarized stores, as part of a broader strategy to raise foreign currency, in a context where the supply in national currency remains insufficient.
The Deputy Minister of Domestic Trade, Aracelys Cardoso Hernández, acknowledged in the Round Table that the supply in national currency is insufficient due to a contraction in production and a foreign exchange deficit, which hinders the replenishment of domestic commerce.
Frequently Asked Questions about the Opening of Dollar Stores in Cuba
Why is the Cuban government opening stores that operate in dollars?
The Cuban government is opening dollar stores as part of a strategy to attract foreign currency and address the economic crisis. The opening of these stores aims to strengthen trade in foreign currency due to the scarcity of products in the national currency. However, this measure has been criticized for deepening economic inequalities in the country, as many Cubans do not have access to this foreign currency.
How does the partial dollarization of the Cuban economy affect the population?
The partial dollarization of the Cuban economy exacerbates social inequalities by limiting access to basic products for those without access to dollars. Most Cubans receive their salaries in Cuban pesos, making it difficult to shop in stores that only accept dollars. Furthermore, the rising demand for dollars has increased exchange rates in the informal market, further impacting the purchasing power of the population.
What criticisms has the government received for the opening of these dollar stores?
The government has been criticized for prioritizing the acquisition of foreign currency at the expense of the basic needs of the population. Many citizens believe that these dollar stores are an insult to the working people, as few Cubans have access to dollars. The criticism also focuses on the growing inequality and the lack of real solutions to the country's economic problems.
How has the opening of dollar stores impacted the informal currency market?
The opening of dollar stores has increased the demand for foreign currency, which has led to a rise in exchange rates in the informal market. This has further complicated access to dollars for citizens, who are witnessing their remittances lose value due to the depreciation of the Cuban peso.
Filed under:
