Tuesday, November 25, 2014

Spain urges Cuba to up pace of economic reforms

Spain’s foreign minister urged Cuba on Tuesday to accelerate economic reforms designed to expand private enterprise and attract foreign investment to the communist-run island. Foreign Minister Jose Manuel Garcia-Margallo’s two-day visit to Cuba was the first by a minister in the Cabinet of Spanish Prime Minister Mariano Rajoy, whose conservative Popular Party has long been critical of Cuba’s policies.

Cuba’s economic reforms were launched by President Raul Castro in 2010 to kick-start a centrally planned economy starved for cash and hamstrung by inefficiency. But the country has been slow to unify its currencies and potential investors have complained of the pace of change, the lack of supplies and the slowness of what should be simple decisions because of overlapping government agencies.

No comments:

Post a Comment