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What to Expect from a Post-Castro Cuba
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What to Expect from a Post-Castro Cuba

Knowledge at Wharton·@HashtagPLUS·about 1 month ago
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For the first time in almost 60 years, a Castro is no longer Cuba’s head of state. Last week, Miguel Diaz-Canel was sworn in as Cuba’s president, elevated from his previous role as first vice president. He has promised to modernize the country’s social and economic model, including dismantling its dual-currency system and leveraging the internet for greater good, but he also committed to retain its socialist trappings. However, many Cubans are skeptical of how much good Diaz-Canel could bring them, and in fact are worried about making ends meet in the new regime, according to experts who spoke to Knowledge at Wharton. The dual currency system has a Cuban convertible peso (CUC) that is pegged to the dollar, and a Cuban peso (CUP) that is worth 1/24th of the CUC. The Cuban peso is used to pay state salaries and to set most domestic prices, while the convertible peso is used by tourists and multinational firms.…

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