LATIN AMERICA ADVISOR

LATIN AMERICA ADVISOR

A daily publication Of the dialogue

September 19, 2024

Will New Taxes & Restrictions Stifle Cuban Businesses?

Cuba imposed several new taxes and restrictions last month on private businesses. The country’s capitol is pictured. // File Photo: Nigel Pacquette via Creative Commons.

Q

A

María José Espinosa Carrillo, executive director of the Center for Engagement and Advocacy in the Americas (CEDA): “The stated aim of the new regulations is increased order over the private sector in Cuba, but they risk undermining private-sector growth—a necessary component of the country’s economic future. The mixed nature of the reforms—some offering protection for workers while others curtail entrepreneurial freedom—signals the Cuban government’s ongoing reluctance to fully embrace private enterprise as a driver of the country’s growth. Shifting regulations create uncertainty and distrust among entrepreneurs and potential investors, hindering investment and economic progress. The Cuban people are suffering an unprecedented multidimensional crisis. Over a million people have migrated since 2022, creating a massive brain drain–the effects of which we will see for decades to come. Meanwhile, civil society organizations, entrepreneurs and…”

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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.

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Merike Blofield
Professor of Political Science,
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Devry Boughner Vorwerk
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Joyce Chang
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Int’l Gov’t Relations,
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US Education Finance Group

Nicolas Mariscal
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Grupo Marhnos

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AMLA Consulting

Ernesto Revilla
Head of Latin American Economics, Citi

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President,
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