What the Reforms Entail
The new measures open large parts of the economy to private businesses and foreign capital, reducing the state’s decades-long control over commerce. While the government has not released a detailed breakdown, the reforms are expected to allow greater private ownership, ease restrictions on small and medium enterprises, and create new avenues for international investors. This marks a dramatic departure from the centralized model that has long defined Cuba’s economy.
A Bid to Revive the Economy
Cuba’s economy has been under severe strain from the US embargo, the collapse of tourism during the pandemic, and chronic shortages of everything from food to medicine. The reforms come as the government seeks to inject dynamism and alleviate a deepening crisis. By courting foreign capital, Havana hopes to modernize infrastructure, boost exports, and generate hard
