The cash crisis in Cuba continues to worsen, impacting millions of citizens who are unable to withdraw money from their accounts, while the regime insists on monetary policies that only deepen the chaos.
Árbol Invertido, an independent Cuban cultural magazine, published on X images and testimonies from Havana that show endless queues at banks and ATMs, where users report that the withdrawal limits change daily and are insufficient even to meet basic needs.
"We can't withdraw our money," the people in the clip make clear. Additionally, it is heard: "That's why people don't want to receive transfers, because there's no cash."
“On the island, there is no cash, prices are rising uncontrollably, and banks impose withdrawal limits that change daily. Retirees must line up from early morning to collect their meager pensions, while people avoid transfers because they can’t withdraw the money afterward,” the publication reports.
For months, many Cubans have been forced to pay in the informal economy to secure a spot in line at the ATMs, where so-called "coleros" have expanded their business by selling places, amid the indifference or inability of the authorities to address a problem that only tackles the symptoms and not the structural causes.
The shared video summarizes in the voices of those affected the daily strain of an economy on the brink, where Cubans even avoid digital transfers because they cannot withdraw cash afterward.
The situation worsens with frequent blackouts, malfunctioning ATMs, and a collapsed financial system that fuels despair among the population.
In Cuba, even withdrawing money from the bank becomes an impossible mission, a reflection of a country caught in a spiral of economic crisis, inflation, and a lack of real solutions.
Frequently Asked Questions about the Banking Crisis in Cuba
Why can't money be withdrawn from banks in Cuba?
The cash crisis in Cuba prevents citizens from withdrawing money from their accounts, as banks impose daily changing withdrawal limits that are insufficient. This situation is exacerbated by the lack of real solutions from the government to stabilize the banking system and the cash supply.
What role do "coleros" play in the banking crisis in Cuba?
"Coleros" sell slots to access ATMs, taking advantage of people's desperation to obtain cash. This practice reflects the government's inaction to address the structural causes of the cash shortage, such as the collapse of the banking system and uncontrolled inflation.
How does the cash crisis affect retirees in Cuba?
Retirees in Cuba face long lines to collect their pensions and, in many cases, must do so under precarious conditions, even sleeping on the streets. The lack of cash and the malfunctioning banking system exacerbate the situation, leaving the elderly without secure access to their funds.
What do citizens think about the causes of the economic crisis in Cuba?
Many citizens believe that the real problem lies in the internal conditions of the country, rather than in the U.S. embargo. They denounce the disorganization, the lack of effective solutions, and the constant deterioration of living conditions as the main factors contributing to the crisis.
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