Financial Policies Reforms for Cuba

Financial Policies Reforms
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Financial Policies Reforms
The Cuban economic system has undergone significant changes to suit the market trends and demands from customers. A cornerstone of the current economic model reforms of the country is its openings to cooperatives, self-employed individuals, and individual farmers. Historically, the Cuban financial system was narrow, thus making it hard for small scale business people to save and direct available resources to productive endeavors (Vidal-Alejandro, 2019). The system lacked any mechanisms to conduct operations in an open market while bank deposits lacked any legal reserve requirements. Cuban government would need to embrace foreign assistance and investment as a key strategy to boost its economy and labor productivity.
One of the recommendations to Cuba is the need to assess all the potential pathways towards Irish Film Institute (IFI) membership. In such a case, the government can emulate the policies from Vietnam and Albania for the anticipated benefi...