The emergency economic package comes amid an ongoing US pressure campaign that has left the island nation reeling.

Cuban President Miguel Diaz-Canel has acknowledged that some of the island’s economic problems ‘don’t come from outside’, a reference to foreign pressure campaigns [Getty]

Cuba’s Communist Party has approved a raft of unprecedented free-market measures as part of an emergency economic package.

The package was submitted to the country’s National Assembly on Thursday, where it is all but assured to pass.

The plan would expand opportunities for private enterprise and create measures to attract additional foreign investment, including from Cubans abroad.

It could also set the stage for private real estate development ⁠on the Caribbean island and the ⁠transformation of state-owned businesses ⁠into private commercial ventures with shares and equity stakes. It would also ‌allow private banks to enter Cuba’s once state-dominated ‌finance ‌sector.

The reform package signals a dramatic shift for Cuba, which is led by the Communist Party.

  • gibmiser@lemmy.worldEnglish
    391·
    2 days ago

    Guess the CIA finally threatened the “right” people. Seems like a rather sudden and convenient shift.

    Here I am with my tinfoil on.

  • PotatoPie@lemmy.zipEnglish
    113·
    1 day ago

    All of the island’s economic problems come from one specific part of the outside, i hope people can fight back before they add a solar panel tax or something, the west has no good in mind for Cuba

    • WaxRhetorical@lemmy.worldEnglish
      31·
      1 day ago

      Don’t put this on the rest of us. Most of Europe has no ill intent towards Cuba, we’d be happy to see them grow into a prospering nation, ideally without sacrificing too much along the way (like essentially giving control of their economy to the US or China).

  • king_comrade@lemmy.worldEnglish
    142·
    1 day ago

    I don’t blame them tbh, but it breaks my heart to see yet another communist project get devoured by imperial capitalist powers.