Speaking on Cuban television and radio, Cuba’s President, Miguel Díaz-Canel, sitting alongside Raúl Castro the First Secretary of the Cuban Communist Party, said that the conditions and all the necessary legal requirements are in place to begin a process that will see a new exchange rate, and remove “excessive subsidies” to industries. At the same time, he also announced a significant increase in income to enable Cubans to address the expected prices rise as the effects the
devaluation are felt.
CUBA BRIEFING