Cuba unveils historic package of free-market reforms

AI Summary

Cuba announced nearly 200 free-market reforms to reduce the state's economic control and attract investment amidst a severe crisis worsened by a US oil blockade. The landmark measures cover sectors like banking, tourism, and agriculture, signaling a significant economic shift.

Cuba on Thursday unveiled nearly 200 historic free-market reforms aimed at rescuing the communist island from a severe crisis aggravated by a US oil blockade. In a landmark speech to the National Assembly, Prime Minister Manuel Marrero detailed 176 measures aimed at rolling back the state’s role in the economy and attracting investment in everything from banking to tourism and agriculture. These huge changes also come as the United States exerts strong pressure on Cuba aside from the oil...