Cuban economy is so bad?

[yossie]

I saw a news article today. That's written in Japanese and don't post it but try to summarize it.

A Japanese enterprize exported their products to Cuba but Cuba national bank says We don't have enough money to pay for it. It's not only us but also the other Cuban banks.

So, I am wondering Cuban economy is on the edge.

[winelover]

» I saw a news article today. That's written in Japanese and don't post it

» but try to summarize it.

»

» A Japanese enterprize exported their products to Cuba but Cuba national

» bank says We don't have enough money to pay for it. It's not only us but

» also the other Cuban banks.

»

» So, I am wondering Cuban economy is on the edge.

Rob or others who frequent Cuba might have the best idea. I imagine the cuban economy is dependent upon tourism and habanos exports and not much else (although I may well be wrong).

[zuma]

» Rob or others who frequent Cuba might have the best idea. I imagine the

» cuban economy is dependent upon tourism and habanos exports and not much

» else (although I may well be wrong)...

Hmmm... Cuba's main source of income is minerals (Nickel being the foremost), tobacco being almost 10% of net exports.

Some relatively recent simple facts can be found at [link=http://news.bbc.co.uk/2/shared/spl/hi/guides/456900/456978/html/nn3page1.stm]>this BBC page<[/link]

[yossie]

» Hmmm... Cuba's main source of income is minerals (Nickel being the

» foremost), tobacco being almost 10% of net exports.

»

» Some relatively recent simple facts can be found at

» [link=http://news.bbc.co.uk/2/shared/spl/hi/guides/456900/456978/html/nn3page1.stm]>this

» BBC page<[/link]

The causes are decrease of nickel price and increase of oil price. The news said.

[skindiver]

» » Hmmm... Cuba's main source of income is minerals (Nickel being the

» » foremost), tobacco being almost 10% of net exports.

» »

» » Some relatively recent simple facts can be found at

» »

» [link=http://news.bbc.co.uk/2/shared/spl/hi/guides/456900/456978/html/nn3page1.stm]>this

» » BBC page<[/link]

» The causes are decrease of nickel price and increase of oil price. The

» news said.

The Cuban economy has been on the edge for awhile now, ever since the Soviet Union stopped supporting it. Their largest source of income is family remittances from abroad, mainly from relatives in the USA. The root cause can be laid at the doorstep of the Castro brothers.