Economic crisis
Cuba's Central Bank introduced a third official floating exchange rate of 410 pesos per US dollar on December 18, 2025, adding to the existing rates of 24 and 120 pesos. The measure aims to capture foreign currency from the informal market and progress toward gradual monetary unification. Officials defend the change as responsible, though doubts remain about its impact on the economic crisis.
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The global travel company Travel Off Path advises against tourist trips to Cuba in 2026 due to crises in electricity, water, food, and healthcare. International arrivals have dropped 20-30% compared to last year. While the country is culturally fascinating, basic conditions for safe vacations are failing.