Months later, Cuba FLAMUR demonstrated through a national survey with over 7,000 respondents, the vast majority of Cubans support the campaign “With the same coin” and want to pay with pesos for goods and services consumed.
The government has recognized that dual currency is a problem, but offers no concrete solution.
We have shown that cubans want reform. In any economic system, the currency has several functions such as:
A yardstick for assessing social work and the material production of goods and services (unit of account).
A symbol socially accepted by consensus or state taxation, for the release of any debt between individuals, companies and state (means of payment).
A store of value that allows its possessor preserve purchasing power over time and exercise when available. These three essential functions are universally acknowledged him to coin the economic doctrine.
The currency used in its role of unit of account for economic calculation.
Cubans want to pay all our transactions with the same currency as the government pays us, the cubans want to establish a single national currency circulation: the cuban money.
The unification is going to allow all cubans a better economic calculation and increased safety in their companies. To avoid traumatic effects and inconsistencies, any changes related to the currency should be done with a holistic approach, which takes into account economic and human factors.
Certainly we must take into account several aspects of the national economy and the impact of monetary unification as could have.
FLAMUR sucked through this document to publicly display the entire population and the government itself ideas of how to move towards monetary unification fruitfully.
Monetary union is a first step, of paramount importance, to start improving the economic situation. We know that is not enough, and therefore should not be the only one.
Must be complemented with other policy measures to achieve reform to alleviate material deprivation of our people and give back hope for a brighter future. In this regard, we here set the broad outlines of what should be achieved with this process of economic reform CONICYT should begin with the unification of the currency, so that there is a single monetary unit with which all cubans to estimate economic values and be rewarded for our efforts.
Here we present what FLAMUR-CUBA estimated that concrete steps could be taken to convert the cuban money in the only currency in a successful manner and improve the performance of the national economy in those areas identified in the previous section.
- Repealing Resolution No. 80/2004 Central Bank of Cuba made official the dual currency in the country.
- Adopt, after a transition period of six months, the cuban money as the only currency of national circulation.
- Adopt a flexible exchange rate bands against a basket of currencies to include the Euro, the U.S. Dollar and other international reserve. The exchange rate is fixed de la cuban currency within a fluctuation banking set by the Central Bank of Cuba.
- The elimination of any tax by foreign currency exchange local currency. Commissions will be safe from financial intermediation usual.
- Establish a register of capital and allow commercial banks to operate freely in foreign currencies to ensure full convertibility.
- Allow the use of electronic payments and credit card use in internal commerce transactions.
- Decriminalize the possession and use of foreign currency.
- Negotiate with the European Union, which has experience in monetary transitions, obtaining technical and institutional assistance for start running.
- Negotiate with the European Economic Area, Mercosur and the Asian Economic Area agreements on mutual protection of investments to estimate the arrival of foreign direct investment to Cuba, under conditions of legal certainty, clarity of rules and operational guarantees and convertibility.
- Strengthen, improve and extend the system of export processing zones. To complement the above measures also require the following:
- Ensuring the free movement of people across the country, from inside the country to the city of Havana and the other way around.
- Facilitate the formation of private producers, to help solve the pressing problems of domestic supply.
- Allowing the formation of organizations that provide business credit lines with flexible repayment terms (not less than 5 years), both for infrastructure and for working capital.
- Facilitate and privatize foreign trade operations with the rest of the world to ensure that the country’s productive effort is not squashed. In this regard, it should allow companies or associations of these processes directly make international buying and selling without official controls, except natural customs.
- Liberalize all markets operations, national and international efforts to ensure that the country is not strangled and that consumer prices are the most competitive possible.
- Establish a uniform tax rate on earnings. The rate should be low enough to promote investment, both cuban and foreign employment and wealth creation.
- To establish the right of all citizens to private property, with all the rights that entails, not only for housing but for the land and all other means of production of goods and services.
- To establish the right of any citizen or legal entity to establish and operate any business or company it deems appropriate.
- Establish a deductible, for example, that the first $ 500.00 of profit does not pay tax. Repeal any other law that is inconsistent measures that are intended to carry.
Board of Directors
Lourdes María Yen Rodríguez
Annia Peralta Zapata
Yuliet Margarita Rodríguez Báez Tel 58040162