{"id":227374,"date":"2020-09-11T14:23:06","date_gmt":"2020-09-11T18:23:06","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=227374"},"modified":"2020-09-11T14:23:06","modified_gmt":"2020-09-11T18:23:06","slug":"central-bank-of-cuba-denies-rumor-about-monetary-unification-on-october-1","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/central-bank-of-cuba-denies-rumor-about-monetary-unification-on-october-1\/","title":{"rendered":"Central Bank of Cuba denies rumor about monetary unification on October 1"},"content":{"rendered":"<p>The Central Bank of Cuba (BCC) denied this Thursday the rumors about the \u201csupposed beginning of the monetary unification as of October 1, 2020.\u201d<\/p>\n<p>The BCC clarified that this information is not true, and confirmed that when that decision is adopted, it will be communicated to the people in a timely manner through official channels, indicated a statement from the entity published in <em><a href=\"http:\/\/www.cubadebate.cu\/noticias\/2020\/09\/10\/banco-central-de-cuba-aclara-rumores-sobre-el-supuesto-comienzo-de-la-unificacion-monetaria\/\" target=\"_blank\" rel=\"noopener noreferrer\">Cubadebate.<\/a><\/em><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">ACLARA <a href=\"https:\/\/twitter.com\/BancoCentralCub?ref_src=twsrc%5Etfw\">@BancoCentralCub<\/a> RUMORES SOBRE EL SUPUESTO COMIENZO DE LA UNIFICACI\u00d3N MONETARIA \u00a0 <a href=\"https:\/\/t.co\/LHrOWzpKDK\">https:\/\/t.co\/LHrOWzpKDK<\/a> <a href=\"https:\/\/t.co\/R8z9bxS1IE\">pic.twitter.com\/R8z9bxS1IE<\/a><\/p>\n<p>&mdash; Banco Central de Cuba (@BancoCentralCub) <a href=\"https:\/\/twitter.com\/BancoCentralCub\/status\/1304066685746458631?ref_src=twsrc%5Etfw\">September 10, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The note reiterates that the monetary unification will not affect the cash in the hands of the population, nor the balances of their accounts in banks.<\/p>\n<p>In recent weeks, an audio has circulated on social networks, whose reliability is unknown, which reveals the imminent unification of the currencies that are officially circulating in Cuba: the Cuban peso (CUP) and the convertible peso (CUC).<\/p>\n<p>The audio announces, among other changes, a possible salary increase for state workers, as well as for the Cuban business system, and anticipates variations in subsidies for the products in the food basket.<\/p>\n<p>Rumors about the CUC going out of circulation have increased since the Cuban government started opening stores that sell products in dollars, through debit cards linked to bank accounts in foreign currency.<\/p>\n<p>As part of the \u201cSocioeconomic strategy to boost the economy and face the global crisis caused by COVID-19,\u201d released this week, the government includes the monetary organization, which \u201cis of transcendental importance and has a cross-cutting impact throughout the economy,\u201d the document indicates.<\/p>\n<p>Cuban Minister of Economy Alejandro Gil had affirmed last December that the monetary unification would not be done \u201cagainst the clock\u201d but \u201cwhen the conditions are created.\u201d<\/p>\n<p>In an interview with the French press agency <em>AFP<\/em>, <a href=\"https:\/\/www.afp.com\/es\/noticias\/3956\/la-generacion-historica-no-frena-las-reformas-en-cuba-trump-si-doc-1n575w1?fbclid=IwAR2TdQCAncA2Pcff-zs4yK6tqOmajirFpoUTzXOZbBvP2xwEV7H2LO3yb9c\" target=\"_blank\" rel=\"noopener noreferrer\">Gil acknowledged<\/a> that \u201cthe future currency of the Cuban economy is the CUP\u201d and that \u201csteps have been taken in that direction,\u201d but said that there is still no set date for this step, one of those that most concerns Cubans within the gradual reform process being carried out by the government.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"dUpeP48uw5\"><p><a href=\"https:\/\/oncubanews.com\/cuba\/ministro-de-economia-la-unificacion-monetaria-se-hara-cuando-esten-creadas-las-condiciones\/\">Ministro de Econom\u00eda: \u201cla unificaci\u00f3n monetaria se har\u00e1 cuando est\u00e9n creadas las condiciones\u201d<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u00abMinistro de Econom\u00eda: \u201cla unificaci\u00f3n monetaria se har\u00e1 cuando est\u00e9n creadas las condiciones\u201d\u00bb \u2014 OnCubaNews\" src=\"https:\/\/oncubanews.com\/cuba\/ministro-de-economia-la-unificacion-monetaria-se-hara-cuando-esten-creadas-las-condiciones\/embed\/#?secret=hKQzTwPDpa#?secret=dUpeP48uw5\" data-secret=\"dUpeP48uw5\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The minister said \u201cthe population will not be affected and the conditions will be taken to minimize the effects,\u201d and referred to the challenge the different exchange rates on the island represent for the unification process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central Bank of Cuba (BCC) denied this Thursday the rumors about the \u201csupposed beginning of the monetary unification as of October 1, 2020.\u201d The BCC clarified that this information is not true, and confirmed that when that decision is adopted, it will be communicated to the people in a timely manner through official channels, [&hellip;]<\/p>\n","protected":false},"author":3134,"featured_media":227380,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13902],"tags":[27185,14816],"ppma_author":[33546,8689],"class_list":["post-227374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuba","tag-central-bank-of-cuba","tag-cuban-economy"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Central Bank of Cuba denies rumor about monetary unification on October 1 | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"The BCC clarified that this information is not true, and confirmed that when the decision is adopted, it will be communicated to the people in a timely manner through official channels, a statement from the entity indicated.\" \/>\n<meta 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