Protests in Cuba saw angry Cubans come out top the streets. This tiny island nation is suffering from a Covid pandemic which has paralyzed the economy of the country.
But whats more paralyzing and detrimental are the cruel US sanctions, in place for decades. In this edition of Economic Divide, we will look at how these sanctions are not excuses by the Cuban govt. in its economic shortcomings.
Cuba in short is hit by 3 main factors that has led to its economic deterioration, note, deterioration, but not its downfall. Today, the global pandemic, the decades-old US blockade, and sanctions put in place under former president Donald Trump during his last days in office. Former US President Donald Trump imposed harsh sanctions on Cuba before he left office.
It was in the form of reducing cash remittances from abroad 2 million Cubans live in the US. Out of that number, 700 thousand send money to their families inside Cuba, making it the second-most important source of hard currency in Cuba.