Cuba Introduces Reforms Amid Cash Shortages
Cuba has launched new free-market reforms, including higher banknote denominations and private exchange houses, to address severe cash shortages and rising inflation. While the government attempts to stabilize the economy, citizens continue to struggle with soaring prices and daily hardships.
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Cuba introduced free-market reforms and new 10,000- and 20,000-peso bills during the morning of September 17 to combat severe cash shortages and inflation. The peso hit 700 to the dollar, a tenfold decline since 2021. The measures attempt to stabilize an economy strained by import dependence and energy crises.
