ES / EN
- June 7, 2023 -
No Result
View All Result
OnCubaNews Needs You
OnCubaNews
  • World
  • Cuba
  • Cuba-USA
  • Opinion
    • Columns
    • Infographic
  • Culture
    • Billboard
  • Sports
  • Styles / Trends
  • Media
  • Special
  • Cuban Flavors
  • World
  • Cuba
  • Cuba-USA
  • Opinion
    • Columns
    • Infographic
  • Culture
    • Billboard
  • Sports
  • Styles / Trends
  • Media
  • Special
  • Cuban Flavors
OnCubaNews
ES / EN
Home Cuba

Cuban government makes flexible operations in freely convertible currency in private sector

Resolution 222/2021, published this September 9 in the Gaceta Oficial, corresponds to new government measures that would allow the private sector to be given greater autonomy and boost the Cuban economy based on the relationship between the state sphere and the self-employed market.

by OnCuba Staff
September 13, 2021
in Cuba
0
Photo: Otmaro Rodríguez/Archive.

Photo: Otmaro Rodríguez/Archive.

A new measure applied by the Central Bank of Cuba (BCC) allows making flexible the use of bank accounts in freely convertible currency for the purchase and sale of goods and services in these currencies in the private sector.

“The decision was made taking into account the experience in the implementation of the legal provisions referring to the use and operation of bank accounts for the purchase and sale of goods and services in freely convertible currency,” the state-run newspaper Granma explained.

https://t.co/cHtiu3gbfv @BarbaritaM4 @marta_wilson @mayobrebcc @AlinoKaterine @RPolancoF @QueipoRuiz @JoelSuarezPelle @PresidenciaCuba @Greicher_Sol @RosaCantillo8

— Banco Popular de Ahorro, Cuba (@CubaBPA) September 11, 2021

According to the information, people who comply with this new resolution can open bank accounts in freely convertible currency at Banco Metropolitano S.A., Banco Popular de Ahorro and Banco de Crédito y Comercio, and are operated by swipe cards.

“Foreign legal entities, as well as associative forms, can also open current accounts in freely convertible currency at Banco Internacional de Comercio S.A. and Banco Financiero Internacional S.A.” Bank accounts that operate in freely convertible currency, the note clarifies, may not be used to present import services to third parties.

Cubans established on the island could use the bank accounts in freely convertible currency to purchase merchandise in establishments that sell in this currency, and pay for the import of products through the accounts in freely convertible currency of the Ministry of Foreign Trade and Foreign Investment or others authorized to carry out this type of transaction.

Related Posts

Charging station of the company Xedit, in Havana. Photo: Granma.

Cuba to have electric vehicle charging stations this year

June 6, 2023
A Cuban mother with her daughter. Photo: Otmaro Rodriguez.

How many Cubans will live in Cuba in 2055? (II)

June 1, 2023
Photo: Kaloian

How many Cubans live in Cuba today? (I)

May 31, 2023
Image: OC/Canva.

Traveling, importing and sending packages to Cuba: What should you know?

May 28, 2023

With these accounts, individuals can receive funds through bank transfers from abroad in any currency; bank transfers from freely convertible currency accounts operated by other individuals in Cuban banks; forms of non-state management; micro, small and medium-sized enterprises; foreign legal entities, associative forms, agricultural producers and other authorized subjects; FINCIMEX S.A. transfers for remittances; and cash deposits in freely convertible currencies accepted by the Central Bank of Cuba, the official organ of the Communist Party of Cuba (PCC) explained.

Resolution 222/2021, published this September 9 in the Gaceta Oficial, corresponds to new government measures that would allow the private sector to be given greater autonomy and boost the Cuban economy based on the relationship between the state sphere and the self-employed market.

Author

OnCuba Staff
Tags: cuban private sectormonetary reogranization
Previous Post

Tourists will have to be vaccinated or have a negative PCR upon arrival in Cuba

Next Post

Cuban Voices: “Socialism’s great innovation can only be in combining social justice with a democracy full of respect for the different”

OnCuba Staff

OnCuba Staff

Next Post

Cuban Voices: “Socialism’s great innovation can only be in combining social justice with a democracy full of respect for the different”

Cuban passport analyzed as part of the investigation on migrant smuggling. Photo: Ministry of the Interior of Uruguay via radiomontecarlo.com.uy

12 Cubans implicated in migrant smuggling network arrested in Uruguay

Conference Press about Havana Syndrome

Cuban scientists refute the existence of so-called “Havana Syndrome”

Leave a Reply Cancel reply

The conversation here is moderated according to OnCuba News discussion guidelines. Please read the Comment Policy before joining the discussion.

Your email address will not be published. Required fields are marked *

Most Read

  • Photo: Kaloian

    How many Cubans live in Cuba today? (I)

    11 shares
    Share 4 Tweet 3
  • How many Cubans will live in Cuba in 2055? (II)

    9 shares
    Share 4 Tweet 2
  • Cuban movie posters, a gem of the island recognized by UNESCO

    11 shares
    Share 4 Tweet 3
  • Traveling, importing and sending packages to Cuba: What should you know?

    28 shares
    Share 11 Tweet 7
  • What foods can be brought to Cuba and what imports are forbidden?

    550 shares
    Share 220 Tweet 138

Most Commented

  • Photo: Kaloian

    Cuba in new cold war: three scenarios

    28 shares
    Share 11 Tweet 7
  • About us
  • Work with OnCuba
  • Terms of use
  • Privacy Policy
  • Moderation policy for comments
  • Contact us
  • Advertisement offers

OnCuba and the OnCuba logo are registered® trademarks of Fuego Enterprises, Inc., its subsidiaries or divisions.
OnCuba © by Fuego Enterprises, Inc. All Rights Reserved.

No Result
View All Result
  • World
  • Cuba
  • Cuba-USA
  • Opinion
    • Columns
    • Infographic
  • Culture
    • Billboard
  • Sports
  • Styles / Trends
  • Media
  • Special
  • Cuban Flavors

OnCuba and the OnCuba logo are registered® trademarks of Fuego Enterprises, Inc., its subsidiaries or divisions.
OnCuba © by Fuego Enterprises, Inc. All Rights Reserved.

Go to mobile version