{"id":288966,"date":"2023-09-21T21:14:39","date_gmt":"2023-09-22T01:14:39","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=288966"},"modified":"2023-09-21T21:14:39","modified_gmt":"2023-09-22T01:14:39","slug":"biden-administration-could-announce-measures-to-provide-greater-financial-support-to-smes-in-cuba","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba-usa\/biden-administration-could-announce-measures-to-provide-greater-financial-support-to-smes-in-cuba\/","title":{"rendered":"Biden administration could announce measures to provide \u201cgreater financial support\u201d to SMEs in Cuba"},"content":{"rendered":"

The Biden administration will provide \u201cgreater financial support\u201d from the United States to the Cuban private sector, a measure that seeks to ease restrictions on the island, according to <\/span>Bloomberg<\/span><\/i>.<\/span><\/p>\n

This is, the media <\/span>points out<\/b><\/a>, a step to try to help <\/span>private ventures<\/b><\/a> that are struggling to survive in the island\u2019s battered economy.<\/span><\/p>\n

A person close to the subject, who spoke on condition of anonymity, assured that the official announcement could be made known during this week, accompanied by regulatory changes aimed at strengthening private enterprise in Cuba.<\/span><\/p>\n

The measures are expected to be implemented \u201cimminently\u201d by several agencies, including the State Department, <\/span>Bloomberg<\/span><\/i> specifies.<\/span><\/p>\n

With these steps, Cuban entrepreneurs will probably have access to the U.S. banking system, which, in the opinion of Miami-based lawyer Pedro Freyre, \u201cwill make life easier for <\/span>MSMEs<\/b><\/a>.\u201d<\/span><\/p>\n

Quoted by <\/span>Bloomberg<\/span><\/i>, Ricardo Herrero, executive director of the Cuba Study Group, also believes that a package of political adjustments is imminent, including greater clarity on what level of loans will be allowed.<\/span><\/p>\n

The measures, he said, \u201cwill detail how Cuban entrepreneurs can open bank accounts in the United States and then access those bank accounts from within Cuba.\u201d According to Herrero, \u201cthat in itself changes the game.\u201d<\/span><\/p>\n

A State Department official revealed, without confirming that there was a pending announcement, that the Biden administration sees entrepreneurs as Cuba\u2019s best hope to grow its economy and stop the departure of immigrants.<\/span><\/p>\n

\u201cThere are no indications that more radical changes are imminent,\u201d the article notes, in reference to the Cuban government\u2019s expectations that Biden would quickly reverse the \u201cmaximum pressure\u201d policy applied by Donald Trump.<\/span><\/p>\n

The text points out that Democrats are afraid of doing anything that could alienate Cuban-American voters in Florida before the 2024 elections.<\/span><\/p>\n

Last week both countries held high-level talks on a series of issues on the common agenda, although they failed to make progress on the biggest disputes, Deputy Foreign Minister <\/span>Carlos Fern\u00e1ndez de Coss\u00edo<\/b><\/a> told <\/span>Reuters<\/span><\/i>.<\/span><\/p>\n

The main concerns of the Cuban delegation point to Cuba\u2019s permanence on the list of state sponsors of terrorism and the continuation of the embargo\/blockade by the Biden administration.<\/span><\/p>\n

The talks addressed immigration issues and cooperation in law enforcement, health, science and technology. Referring to these issues, Fern\u00e1ndez de Coss\u00edo <\/span>told <\/b>Reuters<\/i><\/b><\/a> that \u201cwe welcome them, but they are not the defining factor, the primary issue.\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The measures would detail \u201chow Cuban entrepreneurs can open bank accounts in the United States and then access those bank accounts from within Cuba.\u201d<\/p>\n","protected":false},"author":3134,"featured_media":288969,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13944],"tags":[26490,17491],"ppma_author":[33546],"class_list":["post-288966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cuba-usa","tag-cuban-entrepreneurs","tag-entrepreneurship-in-cuba"],"acf":[],"yoast_head":"\nBiden administration could announce measures to provide \u201cgreater financial support\u201d to SMEs in Cuba | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"The measures would detail \u201chow Cuban entrepreneurs can open bank accounts in the United States and then access those bank accounts from within Cuba.\u201d\" \/>\n<meta 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