PINAR DEL RIO


support babalú


Your donations help fund
our continued operation

do you babalú?

what they’re saying


bestlatinosmall.jpg

quotes.gif

activism


ozt_bilingual


buclbanner

recommended reading





babalú features





recent comments


  • antonio2009: Interesting that Olson excluded Iran and Israel as primary threats in U.S. counterintelligence, even though the U.S. Defense...

  • antonio2009: That should be the red-and-black flag of Castro’s 26 of July Movement being kicked around, instead of the Cuban...

  • asombra: George, the others you mention are so conditioned to focus on the most basic and mundane survival issues that they cannot...

  • Alberto de la Cruz: I agree with you, George, that apathy plays a major role in keeping Cuba under the yoke of tyranny. But...

  • George Moneo: Asombra, very true. But the fact that, so few great men and women willing to oppose the regime, telling the truth about it,...

search babalu

babalú archives

frequent topics


elsewhere on the net



realclearworld

$1.55 billion in Cuba assets disappear

Over the past three months, $1.55 billion in cash has disappeared from the international accounts of the Cuban dictatorship. No one seems to know where the money went, but we do know for sure where it did not go.

It did not go to help the Cuban people, and it certainly did not go to pay back the dozens of creditors the Castro regime has stiffed for decades and continues to owe billions to.

Via the Miami Herald:

Cuban bank assets in a foreign bank system dropped from $5.65 billion to $4.1 billion in three months

The drop of $1.55 billion in the last quarter of 2011 has raised eyebrows

Cuban bank assets deposited in foreign financial institutions that belong to an international reporting system showed a stunning plunge of $1.55 billion, or 24 percent, in just the last three months of last year.

“It’s highly unusual for those deposits to drop so much, especially because Cuba had been building up its liquidity until then,” said Luis R. Luis, a former chief economist at the Organization of American States who first reported the fall.

A Bank for International Settlements report dated June 4 showed Cuban bank deposits in the BIS’s 43 member central banks and financial centers nosedived from $5.65 billion at the end of September to $4.1 billion at the end of December.

Continue reading HERE.

5 comments to $1.55 billion in Cuba assets disappear