Analysis: Cuba’s external stress

By Domingo Amuchastegui

Cuba is highly dependent on imports, limited exports, and on investments and loans that do not materialize, while it is already burdened by a high level of foreign debt. This dependency on external factors and actors has the Cuban economy in an extremely tight spot right now, due to the economic war unleashed by Trump and continued by Biden, and a pandemic that has devastated the tourism industry (Cuba’s main source of hard currency) for two years. Add to that a certain Republican victory in the next elections — both mid-terms and presidential in 2022 and 2024 — and it becomes obvious that these tensions won’t ease anytime soon.

In that vein, here are the most negative factors weighing on Cuba’s external sector:

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