Cuban dictatorship seeks to spark failing state-controlled economy with $41 personal loans
Just like the other "reforms" so loved by the media and Castro sycophants in the U.S., this latest change by Cuba's repressive and murderous apartheid dictatorship is being received with shouts of joy. What the AP and the "Cuba Experts" fail to investigate or even address, however, is how they figure that $41 personal loans can save or even help an economy that has been destroyed by decades of corruption and theft.
Another cosmetic reform by Cuba's criminal totalitarian dictatorship, another propaganda piece by the Associated Press spinning the news in their favor.
Cuba Eases Rules for Small Business Lending
Cuba says it's easing the terms of lending to private business owners in an attempt to boost the country's new small business sector.
The new rules were published in the country's Official Gazette this week and publicized by state media Saturday. They let private businesspeople take out loans for as little as 1,000 pesos, or $41, a third less than the previous minimum.
The terms of repayment can now extend up to 10 years, with bank presidents authorized to extend them even longer in certain cases.
Earlier this year, Cubans were allowed to use personal property such as real estate and jewelry as collateral for loans.
The number of islanders working for themselves has stalled for the past two years at about 444,000 — or 9 percent of the workforce.