Cuban convertible peso

Imagine having to wait hours to just cook dinner. Yeah that is what the Cubans have to deal with every time the power goes out. The stoves are electric so if the power goes out then dinner is put on hold. This is not a fun experience especially coming from a place where the only time the power goes out is if something hit electricity

In Latin America, only 8 countries have unemployment insurance, the most economically and socially developed. The purpose of this insurance is to keep part of the wages of workers during a recession or economic cycle. But in Cuba, predominant unemployment is not cyclical, but structural or chronic (or underemployment), so these programs would benefit only an exiguous minority of the workforce. Cuba unemployment rate is 3.8% Ranked 98th while the United States unemployment rate is 8.1% Ranked 47th

other countries the U.S. dollar is worth less. The exchange rate fluctuates on a continuous base which makes the term “funny money” more realistic each day. The purpose of this paper is to discuss hard and soft currency, the South African rand, Cuban pesos, and why the exchange rates fluctuate. Hard currency is a currency, usually from a highly industrialized country, that is largely accepted globally as a form of

In 1959, Fidel Castro seized control of Cuba and the country turned from dictatorship to a communist state. The Cuban socioeconomics follow that of other Communist cultures for example the Soviet Union, where the government is in control all parts of its citizen’s way of life. In most recent years, Raul Castro has setup many reforms that benefit the people. The reforms are: “1. Removal of internal restrictions on the movement of people and goods within Cuba. As things currently stand, people within

ACADEMY OF ECONOMIC STUDIES FACULTY OF BUSINESS ADMINISTRATION SUBJECT: INTERNATIONAL MARKETING STUDENTS: ICHIMOAEI VICTOR-DRAGOS MIHAI MINODORA-ELENA GROUP 133, SERIES A PROJECT THEME: CUBA TABLE OF CONTENT: 1. HISTORY 2. GOVERNMENT 3. PHYSICAL ENVIRONMENT 3.1. LOCATION 3.2. CLIMATE 3.3. RESOURCES 4. RELIGION AND LAW 5. PERSONAL COMMUNICATION 6. CULTURE 6.1. MUSIC 6.2. SPORTS 7. ECONOMY AND MARKETING

total contribution was 9.8% with estimated rise by 4.7% per year. Monetary policy. Currently Cuba operates a dual currency system. The two official currencies include the Cuban peso (MN or CUP) and the Cuban convertible peso (CUC). The convertible peso was originally designed to replace the U.S. dollar at a 1:1 rate. The Cuban peso was created in 1915, at which time the U.S. dollar was also legal tender

military aid to Cuba in 1958, which would lead to Batista fleeing into exile and Castro took control over the Cuban government. Cuba: Government The Republic of Cuba is one of the world's four remaining Socialist States expounding the characteristics of Communism. Jose Marti, Marx, Engels and Lenin, could be the founding fathers of the Cuban constitution. Their ideologies still guide the Cuban government until this day. The First Secretary of Communist Party of Cuba holds a dual post as a President

Number Seven: Cubans Have Their Own Version of Monopoly It's called “la deuda eternal” (“eternal debt”). Rumor has it Fidel Castro banned Monopoly on Cuban territory, and got every game on the island destroyed. A version of the game was introduced into the country to satisfy the government's own policies and ideologies. Players assume the role of third world nations, whose mission is to end the IMF. Instead of going to prison, players might end up in a coup. Number Six: Cubans Love K-Dramas It

Arguably the most prolific figure in Cuban history, Jose Martí’s image is projected everywhere from monuments to money in small villages and big cities. His legacy has been used as a pillar for countless political parties since his death, as his words have been tailored and framed to align with various parties’ beliefs. The structure and practices of the 1959 revolutionary government do not coincide with Martí’s vision for Cuba on a political, economic and social level. Martí believed in democratic

taste of the vibrant Cuban culture. One key reason travelers visit the city is the delightful cuisine that has been provided by generations and generations of Cuban families. The variety of Cuban cuisine never ends: from street vendors selling “cajitas” (food boxes) stuffed with mojo pork for $1.50, to a steak and tostones (fried plantains) meal fit for royals (most recently, Barack Obama) at Palador San Cristobal, an antique yet glitzy establishment. After an authentic Cuban meal, tourists enjoy