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The Cuban economist Pedro Monreal criticized the economic policies of the regime of Miguel Díaz-Canel, stating that the expansion of trade in foreign currency deepens the "economic distortions" in the country.
"Every time in Cuba the sales in dollars expand, the economic 'distortions' that the government claims it wants to correct are reinforced. Selling more every day in a currency in which salaries and pensions are not paid is an economic policy error," said Monreal on his X account (formerly Twitter).
The economist's statements come in a context where the Cuban government has expanded access to basic and consumer goods through stores that only accept dollars, and they have just announced new economic measures to correct distortions.
Monreal has been a consistent critic of these types of policies that foster the fragmentation of the domestic market and create a vicious cycle in which the population without access to foreign currency becomes increasingly limited in acquiring essential goods.
The debate over the dollarization of the economy in Cuba continues to grow, as the majority of Cubans still face difficulties accessing basic goods amid inflation and shortages.
The economic crisis in Cuba has deepened in 2024 and 2025 due to the partial dollarization driven by the Cuban government. This process has led to increasing social inequality and economic exclusion for those who only have income in Cuban pesos.
Recently, economist Miguel Alejandro Figueras also criticized the dollarization in Cuba, pointing out that the regime does not implement effective corrective measures.
The opening of exclusive dollar stores, as announced by the Ministry of Domestic Trade (Mincin), reinforces market segmentation and makes it harder for most Cubans to access basic goods.
The restriction on the sale of special gasoline, now only accessible by paying in dollars, is another example of the restrictive economic policies implemented this year.
It is also important to remember that the Cuban government announced an increase in internet prices to attract more foreign currency, which exacerbates the crisis.
Dollarization is not only an economic measure but also a political control mechanism that is causing discontent and an increase in economic precariousness for most Cubans.
Frequently Asked Questions about Dollarization and the Economy in Cuba
Why is partial dollarization in Cuba criticized by economists?
The partial dollarization in Cuba is criticized for deepening economic distortions and increasing social inequality. Economists such as Pedro Monreal argue that this measure excludes those who do not earn income in foreign currency, making it harder for them to access essential goods and exacerbating market segmentation. Furthermore, it is seen as a mechanism of political control rather than an economic necessity, reinforcing the State's power over foreign currency and preventing the establishment of a functional exchange market.
What is the impact of dollar-operated stores on the Cuban economy?
The stores that operate in dollars in Cuba reinforce market segmentation and make it difficult for most Cubans who receive their income in pesos to access basic goods. These stores increase the demand for dollars in the informal market and contribute to the economic crisis by limiting the purchasing power of the population, creating an environment of economic and social exclusion.
What are the consequences of a lack of a balanced exchange market in Cuba?
The lack of a balanced exchange market in Cuba perpetuates informality and generates economic uncertainty. Without a legal and accessible exchange system, the private sector and the population rely on the informal market to obtain foreign currency, which increases economic inequalities and hinders economic stability. This affects the competitiveness of the private sector and limits opportunities for foreign investment.
How does the economic policy of the Cuban regime affect the well-being of the population?
The economic policy of the Cuban regime has worsened the well-being of the population by implementing restrictive measures and prioritizing state control over economic development. The combination of fiscal austerity, disproportionate investment in tourism, and partial dollarization has led to a deterioration of public services, a loss of purchasing power among workers, and an increase in social inequalities. This keeps the population in an increasingly precarious situation.
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