{"id":267761,"date":"2023-04-07T12:00:31","date_gmt":"2023-04-07T16:00:31","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=267761"},"modified":"2023-04-07T12:00:31","modified_gmt":"2023-04-07T16:00:31","slug":"cuba-highlights-regional-agreement-to-counter-inflation","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/cuba-highlights-regional-agreement-to-counter-inflation\/","title":{"rendered":"Cuba highlights regional agreement to counter inflation"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Cuban President <\/span><a href=\"https:\/\/oncubanews.com\/en;tag\/miguel-diaz-canel\/\" target=\"_blank\" rel=\"noopener\"><b>Miguel D\u00edaz-Canel<\/b><\/a><span style=\"font-weight: 400;\"> highlighted this Wednesday that several countries in Latin America and the Caribbean <\/span><a href=\"https:\/\/www.presidencia.gob.cu\/es\/noticias\/soluciones-conjuntas-para-enfrentar-realidades-comunes\/\" target=\"_blank\" rel=\"noopener\"><b>agreed<\/b><\/a><span style=\"font-weight: 400;\">\u00a0to define commercial facilities for an exchange of goods in \u201cbetter conditions\u201d and other measures against <\/span>inflation<span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">D\u00edaz-Canel reported from Twitter that they also agreed on \u201clogistical, financial measures\u201d after intervening electronically at the summit against inflation called by Mexican President Andr\u00e9s Manuel L\u00f3pez Obrador.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"es\" dir=\"ltr\">En declaraci\u00f3n de Cumbre de Presidentes celebrada hoy, acordamos avanzar en definici\u00f3n de facilidades comerciales, medidas log\u00edsticas, financieras y otras permitan que el intercambio de productos de la canasta b\u00e1sica y bienes intermedios ocurra en mejores condiciones.<\/p>\n<p>&mdash; Miguel D\u00edaz-Canel Berm\u00fadez (@DiazCanelB) <a href=\"https:\/\/twitter.com\/DiazCanelB\/status\/1643703444430024707?ref_src=twsrc%5Etfw\">April 5, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">\u201cIn a statement of the Summit of Presidents held this Wednesday, we agreed to advance in the definition of commercial facilities, logistical, financial and other measures that allow the exchange of products of the basic basket and intermediate goods in better conditions,\u201d he noted.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">D\u00edaz-Canel pointed out that another of the results was to create a technical working group to \u201cdetermine regional cooperation measures and establish an action plan that facilitates trade, technology transfer, maritime and air connectivity, and the creation of capabilities.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He also thanked Mexican President Andr\u00e9s Manuel L\u00f3pez Obrador for inviting him to the meeting \u201cin which we agreed with proposals aimed at facilitating and expanding the exchange of goods, and we call for promoting cooperation to increase food production and access to it.\u201d<\/span><\/p>\n<p>https:\/\/twitter.com\/JosefinaVidalF\/status\/1643674313969610753?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1643674313969610753%7Ctwgr%5Ebc1e96fbbbf1bd97241ce84356a1e7afd1e625cd%7Ctwcon%5Es1_&#038;ref_url=https%3A%2F%2Foncubanews.com%2Fcuba%2Fcuba-destaca-acuerdo-regional-para-contrarrestar-la-inflacion%2F<\/p>\n<p><span style=\"font-weight: 400;\">At the meeting, in which other Latin American presidents intervened, D\u00edaz-Canel also suggested resorting to barter trade, Cuban Deputy Foreign Minister Josefina Vidal explained on Twitter.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAlthough it seems that (inflation) is subsiding, it is still a permanent threat, because it greatly affects the people\u2019s economy. We are increasing the salary like never before, but if we do not control inflation, we cannot improve the purchasing power of the people,\u201d L\u00f3pez Obrador explained in his initial speech, quoted by the EFE news agency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The summit had as a prelude a meeting of foreign ministers and ministers on March 27 where economic and commercial proposals were discussed to mitigate the price increase in the basic food basket.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Cuban government does not regularly publish a Consumer Price Index, but it recognized that in 2022 year-on-year inflation in the formal market reached 39.07% (that of the informal market was much higher). This means that in the last two years, the prices in the formal market have doubled.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cuba experiences a sustained rise in the prices of products, especially food, since the application of the \u201cTask of Reorganization,\u201d an economic and monetary reform implemented at the beginning of 2021.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The package\u2019s aim was to eliminate the dual currency in the country but ended up generating perceptible imbalances in inflation and hidden dollarization of the economy.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cuba is especially sensitive to the increase in food prices in the international market because it imports about 80% of the food it consumes, according to United Nations data, EFE pointed out.<\/span><\/p>\n<p><i><span style=\"font-weight: 400;\">EFE\/OnCuba<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Miguel D\u00edaz-Canel participated, virtually, in a meeting of presidents of Latin America and the Caribbean convened by Mexico with the purpose of establishing measures against inflation.<\/p>\n","protected":false},"author":3134,"featured_media":267763,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13902],"tags":[14816,29036],"ppma_author":[33546],"class_list":["post-267761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuba","tag-cuban-economy","tag-dollarization-of-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>Cuba highlights regional agreement to counter inflation | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"Miguel D\u00edaz-Canel participated, virtually, in a meeting of presidents of Latin America and the Caribbean convened by Mexico 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