Linkedin-in Youtube Facebook-f

LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

November 27, 2023

Can Cuba Attract New Investments to Spur the Economy?

Cuba’s government this month held a business fair in the hopes of attracting new investments for its beleaguered economy. Havana is pictured. // File Photo: Lark Ascending via Creative Commons.

Q

  • Cuba on Nov. 6 hosted a business fair that drew more than 800 companies from dozens of countries as it seeks new investments. While Cuba is facing a severe economic crisis, the country’s president, Miguel Díaz-Canel told attendees that the fair’s “massive” participation proved that businesses have confidence in Cuba, Reuters reported. How strong is business confidence in Cuba, and to what extent will the fair translate to new investment in the country? How much will difficulties in financing, given U.S. sanctions on the country, prevent businesses from pursuing plans in Cuba? What other actions must Cuba’s government take in order to strengthen the island’s economy?

A

Pavel Vidal, professor in the Department of Economics at Pontifical Xavierian University in Cali, Colombia and former analyst in the monetary policy division at the Central Bank of Cuba: “It is likely that some foreign investors may want to explore the changes occurring in the Cuban economy and the opportunities opening up with private small and medium-sized enterprises. However, in general, the Cuban economic landscape remains quite discouraging for business development on the island. Inflation and fiscal imbalances remain out of control, and there are no prospects for the short or medium-term restoration of external debt payments. The government has spoken of a macroeconomic stabilization program, but its characteristics and start date remain a mystery. Companies operating in the Cuban market are affected by deficits in the electricity generation system and the scarcity of foreign currency; in fact, most private companies must…”

Top News

Petrobras Unveils $102 Billion Investment Plan
Brazilian state oil company Petrobras announced Thursday that it plans to invest $102 billion over the next five years, mainly in oil production and exploration.
Americanas Reaches Deal With Creditors on Debt
Brazilian retailer Americanas has reached an agreement with creditors to overhaul more than 35 percent of its debt. Other creditors also expressed interest in the same deal. Nearly a year ago, an accounting scandal doubled the retailer’s debt to $8.7 billion.
Noboa Takes Office as President of Ecuador
Daniel Noboa, 35, was sworn in Thursday as president of Ecuador. In his inaugural address, he vowed to improve security and create jobs in the South American country. // File Photo: Facebook Page of Daniel Noboa.

Complete editions of the Latin America Advisor are delivered on a biweekly basis to members of the Dialogue’s Corporate Program and other subscribers. Sign up below for a free complimentary preview subscription.

Subscribe

ABOUT THE LATIN AMERICA ADVISOR

The Inter-American Dialogue publishes the Latin America Advisor every business day for a distinguished membership of informed corporate leaders, scholars, and government officials invested in Latin America’s development and future. The Advisor‘s highly regarded Q&A section covers questions submitted by subscribers themselves. Commentators regularly include heads of state, business leaders, diplomats, economists, analysts, and thought leaders from around the world. Many of the world’s largest and fastest-growing companies subscribe to the Advisor. To subscribe, click here. For terms and conditions, click here. For more information, contact Gene Kuleta, editor of the Advisor, at gkuleta@thedialogue.org.
Energy Advisor
Financial Services Advisor

Subscribers

the-dialogue-subscribers7
the-dialogue-subscribers6
the-dialogue-subscribers5
the-dialogue-subscribers4
the-dialogue-subscribers3
the-dialogue-subscribers2
the-dialogue-subscribers1

Staff

Gene Kuleta
Editor
P. 202.463.2920
E. gkuleta@thedialogue.org

Carl David
Goette-Luciak
Reporter

Nili Blanck
Reporter

Subscribe

board of advisors

Diego Arria
Director,
Columbus Group

Merike Blofield
Professor of Political Science,
University of Hamburg

Devry Boughner Vorwerk
CEO,
DevryBV Sustainable Strategies

Joyce Chang
Global Head of Research,
J.P. Morgan

Marlene Fernández
Corporate Vice President for Gov’t Relations,
Arcos Dorados (McDonald’s)

Peter Hakim
President Emeritus,
Inter-American Dialogue

Donna Hrinak
Director,
Adtalem Global Education

Jon E. Huenemann
Council Member,
GLG Inc.

James R. Jones
Chairman,
Monarch Global Strategies

Craig Kelly
Senior Director,
Int’l Gov’t Relations,
Exxon Mobil

Barbara Kotschwar
Professor of Political Economy,
Georgetown University

John Maisto
Director,
US Education Finance Group

Nicolas Mariscal
Chairman,
Grupo Marhnos

Thomas F. McLarty III
Chairman,
McLarty Associates

Beatrice Rangel
Director,
AMLA Consulting

Ernesto Revilla
Head of Latin American Economics, Citi

Gustavo Roosen
President,
IESA

Andrés Rozental
President, Rozental &
Asociados

Shelly Shetty
Managing Director,
Sovereigns, Fitch

The Dialogue is a hemispheric organization that builds networks of cooperation and action to advance democratic resilience, shared prosperity, social inclusion, and sustainable development across the Americas. We impact policy debates, devise solutions, and enhance collaboration to unlock meaningful change in the Western Hemisphere.

Quick Links

Donate

Inter-American Dialogue
1155 15th Street NW | Suite 800
Washington, DC 20005
P: +1-202-822-9002
F: +1-202-822-9553

Preview Latin America Advisor
Linkedin-in Youtube Facebook-f

© 2024 Inter-American Dialogue

Subscribe To
Latin America Advisors

* indicates required field

The Inter-American Dialogue Education Program

SUBSCRIBE TO OUR NEWSLETTER / SUSCRÍBASE A NUESTRO BOLETÍN:

* indicates required

Part-Time: Reporter, Latin America Advisor