Cuba’s powerful Communist Party approved an emergency economic package featuring unprecedented free-market measures aimed at opening up the struggling island’s economy amid heightened pressure from the U.S.
Economic Reforms
The document, which has not yet been made public, will be submitted to Cuba’s National Assembly. It envisions expanding opportunities for private enterprise, greater autonomy for municipalities and state-owned companies, and measures to attract additional foreign investment, including from Cubans abroad.
In recent days, residents in several Havana neighborhoods staged protests, banging pots and pans as power outages spread across the island. President Miguel Díaz-Canel said the emergency plan and the policy document prepared by the Communist Party’s Central Committee were shaped by the experiences of China and Vietnam, two communist countries that have introduced market-oriented economic reforms while maintaining one-party rule.
U.S. Vice President JD Vance said at a White House press briefing that the administration is watching the island’s actions to determine how to respond. “We’re going to see what they do. And obviously, if they do one thing, we’re going to do something,” Vance said. “If they make smart decisions, we’re going to have a much better relationship with that island.”
Original reporting: KTBS 3 (Shreveport) — read the source article.
