Cuba to Welcome US Dollars in Some Stores to Combat Black Market

The Cuban government on Tuesday said it plans to allow selected state-controlled stores to sell products such as household appliances and car parts in US dollars, in an effort to counter the use of the currency on the black market, reports dpa news on Wednesday.

“The country needs foreign currencies in order to finance our own economic and social growth,” Economy Minister Alejandro Gil said in a televised round table, according to the official Cubadebate website.

The products will not be purchased in cash but rather with debit cards which will be connected to bank accounts in US dollars. Cubans will also be able to import some products to the island, although they’ll have to go through a list of state-controlled companies.


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