In an official announcement in state newspaper Granma, government officials announced a system in which employees who work for corporations with foreign capital will be paid two Cuban Pesos for every Convertible Cuban Peso (CUC) the corporation actually pays them. The Convertible Peso (CUP) is almost exclusively for the use of tourists and is of significantly greater value; one CUC is the equivalent of an American dollar and the equivalent of 26.5 CUPs. The other 24 CUPs Cuban workers will not receive amount to 92% of their salaries....
The new measures, though enacted hours before the release of USAID worker Alan Gross and President Obama’s announcement of new trade measures, should inspire caution in American companies that would like to do work on the island. American companies would be keeping very little of the money they invest and earn in business on the island, while lining the pockets of the communist government. As Raúl Castro noted in his speech, the Cuban government made no concessions in this recent negotiation with the United States, save the freedom of Gross and one other American agent whom President Obama did not name, which leaves it open to sanctioning American companies who dare attempt to do business on the island as they see fit.
LISTEN to Marco Rubio’s fantastic interview with Mark Levin on Cuba http://t.co/h6av7vfVTn pic.twitter.com/fRgd6JCnuE
— The Right Scoop (@TheRightScoop) December 20, 2014
