Basic banking math

bruno

As we also pointed out yesterday:

“The measure regarding the use of the dollar still does not mean that banking relations between Cuba and the U.S. have normalized.  Cuban banks are still not allowed to have correspondent accounts in U.S. banks, which means that we must continue to operate via third parties, which increases operating and procedural costs…

“The prohibition on U.S. imports of Cuban products remains in place. The only thing that was modified was the absurd prohibition on U.S. citizens’ consumption of Cuban products and services in third countries.”

– Cuban Foreign Minister Bruno Rodríguez, Press Conference, Havana, March 17, 2016

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