{"id":208072,"date":"2019-10-23T19:34:48","date_gmt":"2019-10-23T23:34:48","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=208072"},"modified":"2019-10-23T19:34:48","modified_gmt":"2019-10-23T23:34:48","slug":"what-is-known-about-the-new-stores-in-foreign-currency-for-cubans","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/what-is-known-about-the-new-stores-in-foreign-currency-for-cubans\/","title":{"rendered":"What is known about the new stores in foreign currency for Cubans?"},"content":{"rendered":"

Since the Cuban government <\/span>announced<\/span><\/a> the upcoming opening of stores to sell a group of products in dollars and other foreign currencies, the island\u2019s population\u2019s concerns and expectations about the new establishments have increased.<\/span><\/p>\n

The objective, according to the government, is to raise foreign currency\u2015thus avoiding its flight abroad\u2015to boost the <\/span>Cuban economy<\/span><\/a> and alleviate its financing difficulties, at a time when the Trump administration is intensifying the embargo and enforcing new sanctions against Cuba.<\/span><\/p>\n

The opening of the stores will be \u201ca gradual and orderly process,\u201d according to Cuban Vice President Salvador Vald\u00e9s Mesa, who acknowledged that \u201ctoday the market is not stocked\u201d and that part of the currencies collected in this way will be used in the \u201crestocking of the markets\u201d on the island.<\/span><\/p>\n

The Cuban authorities have said that the operation of these stores does not mean that the import of these same items by Cubans from other countries will be banned or customs regulations changed, although many specialists are of the opinion that the measure also points to the black market and the so-called \u201cmules\u201d who arrive in Cuba loaded with dissimilar items, while warning about a depreciation of the Cuban convertible peso (CUC) against the dollar as a consequence of this.<\/span><\/p>\n

A total of 77 retail stores for sale of products in foreign currencies will open their doors throughout the country, although in the first stage, previewed for before the end of October, there will only be 13, distributed between Havana (12) and Santiago de Cuba (1), the official daily Granma <\/em><\/span>recalled<\/span><\/a> this Tuesday.<\/span><\/p>\n

These include the very busy commercial establishments Galerias de Paseo and 3rd and 70, in Havana, and La Escuadra store, in the city of Santiago.<\/span><\/p>\n

In a second stage, the network of stores will be extended to the other provinces, and will grow to definitive figures\u2015for the moment\u2015in Havana, which will have 25, and Santiago, four.<\/span><\/p>\n

Gobierno cubano habilitar\u00e1 tiendas para la venta en d\u00f3lares y otras divisas<\/a><\/p><\/blockquote>\n