Rob Sequin | Havana Journal
I want to sum up the state of the Cuban economy for anyone interested in the truth about the GDP in Cuba, Cuban accounting practices, Cuban debt and the import and export markets in Cuba.
Many end of year stories about the economy in Cuba have recently been written by many sources so I wanted to post this article so Havana Journal readers can read each article and decide for themselves if the Cuban government is being truthful about their economy.
First, let me start off with a Reuters article Questionable accounting by Cuban government accepted by United Nations. This is a title we gave to the article that had the original title of “Cuba says United Nations accepts GDP formula”. The UN only recognizes two countries in the entire world with Cuba’s accounting practices. So, first off we are dealing with a foundation of questionable accounting practices so the numbers are skewed in Cuba’s favor.
Second, Reuters writes Cuba delaying debt payments to France and businesses and this is a very regular type of news story. Perhaps only delayed debt payments and renegotiated debt to Cuba’s lenders makes the news but their credit rating is among the absolute worst in the world because Cuba is not a reliable debtor.
Third, this Ahora.cu article Call for Increased Exports and Less Imports gives insight into how bad the economic situation is in Cuba while Cuba says GDP rose 4.3 percent in 2008 and Cuba says economy to grow 6 percent in 2009.
Lastly, the Cuban government met to discuss the economy and planning for 2009. Here are two versions of the same information:
Cuban government report: President Raul Castro Calls for Realism and Rationality
Reuters report: Raul Castro calls for harder work, fewer handouts
—————————————- Havana Journal Comments—————————————-
WOW! Growth of 6% Cuba. That’s fantastic. Congratulations. I guess the hurricanes and the Embargo are not hurting the Cuban economy after all??? Bullshit. This is just more propaganda from the Cuban government and it gets old after a while so I feel obligated to sum up Cuba’s economic situation for Havana Journal readers. I have posted all these articles so you can decide for yourself and leave comments below.
So, President Castro, is Cuba doing well or is Cuba in bad shape because of the hurricanes and the Embargo? I know you want it both ways and many apologist nations are willing to allow you to claim a great economy while not paying your debts but that doesn’t make it through the bullshit screen at the Havana Journal.
I say Cuba is a deadbeat nation that blames the Embargo because Fidel and Raul like it that way so they can keep their people enslaved to the Cuban government.