Dollarization

Shops at the Habana Libre Hotel in Havana have temporarily closed, with a sign stating they will reopen only in US dollars, highlighting the ongoing dollarization trend in Cuba's economy.

December 14, 2025 Reported by AI

Economy Minister Joaquín Alonso Vázquez has framed the government's new partial dollarization measures—detailed in last week's resolutions—as a temporary bridge to full de-dollarization and 'socialism with Cuban characteristics.' The policy allows private entities to retain 80% of foreign currency earnings while building a formal exchange market.