Cuba's parliament has approved 176 measures opening the economy to private banks, foreign trade and diaspora money, its boldest shift in decades.
Cuba approved 176 measures June 18: private banks, diaspora investment, state-free trade—biggest overhaul since 1959 amid 15% GDP contraction. China-Vietnam governance model (market + single-party control) inspires shift; US sanctions limit foreign capital, dampening reform impact.
Macro · Caribbean
Key Facts
—The vote. Cuba’s parliament approved a package of one hundred and seventy-six economic measures on Thursday.
—The scale. Analysts call it the biggest shift in the island’s economic model since the 1959 revolution.
—The openings. The reforms allow private banks, freer foreign trade and investment by Cubans living abroad.
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Cuba's National Assembly unanimously approved 176 economic reforms allowing private banks, foreign investment in state firms, and…
National Assembly votes unanimously to approve dozens of reforms aimed at opening up the struggling island’s economy.
Cuba approved 176 measures to decentralize its socialist economy in its broadest reforms since 1959, allowing private businesses,…
Cuba’s parliament has approved 176 measures to loosen the economic model, boost private-sector involvement and make it easier for…
Cuba's National Assembly approved on Friday a package of 176 measures that introduces market dynamics into the island's economy,…
Las 176 medidas representan el mayor cambio del modelo económico de la isla desde hace casi 70 años.
