🥶 Cuba’s bank freeze and tactics for Trump

IN THIS ISSUE

• Foreign investors trapped by Cuban “corralito”

• A guest post from International Intrigue analyzing LatAm’s diverging Trump strategies

Cuba seizes foreign bank deposits

Cornered by an unprecedented economic crisis and a hostile government in Washington, the Cuban government is resorting to desperate measures. This month, it announced the seizure of US dollar deposits held by foreign firms on the island, a decision that could further halt its remaining business activity.

State of play. Cuba’s economic struggles have reached dramatic levels since the Covid pandemic, which forced the country to devalue its currency, launched the largest wave of emigration since the 1959 revolution and contributed to an ongoing energy crisis that has caused weeks-long blackouts.

Bad to worse. The arrival of Donald Trump to the US presidency added to government concerns, marking the end of the “Cuban thaw” and bringing back sanctions against the island. 

🌎 LatAm Report