The Truth About Cuba’s Private Sector
Contrary to some speculation, the island continues to see a large number of entrepreneurs operating outside the umbrella of the state, the authors write.
The recent rollout of long-awaited measures from the Biden administration to support Cuba's private sector has reignited debates about the role of the island's non-state actors. First announced in 2022 but implemented in May, the regulations allow Cuban private businesses some access to U.S. banking and cloud-based services such as app stores. However, with the U.S. presidential election looming, skepticism abounds regarding the willingness of American financial institutions and tech companies to engage with Cuban clients. The political risk may well outweigh any short-term business...
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