Cuba Ends War With Dollar in Attempt to Kickstart Economy Amid US Sanctions Pressure, Coronavirus

The Caribbean island2

The Caribbean island nation first opened the door to the redollarization of the economy in late 2019, rolling back a 15-year-old policy established by Fidel Castro in 2004 to stop accepting the US currency as payment in some stores amid the intensification of banking sanctions pressure by Washington.

Cuba has moved to repeal a 10 percent tax on payments in US dollars, and broadened the variety of goods which can be bought with the US currency in an effort to improve the economic situation in the country, Granma has reported.

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