US Researchers Say Cuban Model More Damaging than the Embargo

HAVANA TIMES – The study The New Economy of Cuba and the International response was distributed to the media Monday by the Brookings Institution, a self-described independent American think tank based in Washington, D.C. In the document, researchers allege that Cuban economic model is more harmful than the US blockade of the island, reported EFE.

The study concludes that despite the progress made by the current government, the Cuban economy remains stagnant, with its most serious brake being the “outdated economic model inherited from the Soviet Union.”

“To achieve the faster growth demanded by its suffering population, Cuba must embrace the global economy and open up more to foreign investment, eventually including US companies,” proposes the study’s author, Richard E. Feinberg.

He recommends Cuba approach organizations like the International Monetary Fund and the World Bank, leaving aside past misgivings. Likewise, he suggests the US not oppose the readmission of Havana into international financial institutions.

 


16 thoughts on “US Researchers Say Cuban Model More Damaging than the Embargo

  • Corrections to the above:
    (1) The “5,000” pesos down payment was a typographical error. It should have been “10,000” pesos.
    (2) The line “A capitalist bank, making the same 120,000 peso loan . . .” was a mistake. It should have read: “A capitalist bank, making a 90,000 peso loan . . .”

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