The Cuban government announced new measures to expand the participation of Cubans living abroad in the national economy, including the possibility of opening foreign currency bank accounts in banks on the island.
The measure was presented during an intervention on the television program Mesa Redonda by the Deputy Prime Minister and Minister of Foreign Trade and Foreign Investment, Oscar Pérez-Oliva Fraga. He explained that the goal is to facilitate the involvement of Cubans living abroad in economic activities and productive projects within Cuba.
According to the official, emigrants will be able to open foreign currency bank accounts in Cuban financial institutions, which would allow them to conduct operations related to investments, private business, and other economic initiatives in the country. With this mechanism, the government aims to facilitate the flow of capital from the diaspora to the national economy.
The initiative is part of a broader package of decisions aimed at integrating Cubans abroad into various areas of the economy. Among the announced measures, there is also the possibility for them to participate as partners or owners of private businesses on the island, as well as their involvement in productive projects and partnerships with state or private entities.
The authorities claim that these measures aim to broaden the country's sources of funding, stimulate the economy, and strengthen ties with the Cuban community living abroad.
However, the announcement comes amidst a deep economic crisis marked by cash shortages, restrictions on withdrawing money from banks, and a persistent lack of liquidity in the Cuban financial system. In recent years, many citizens have faced limits on accessing their own deposits in both national currency and foreign currency, which has generated distrust in the banking system.
In this context, some observers note that the opening of accounts for emigrants could also be a response to the government's urgent need to attract fresh foreign currency in a country facing serious cash and financing availability issues.
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