Articles Tagged with Communist Party

View_of_Havana_Cuba_25371249043-300x200Faced with an increasingly urgent economic situation, Cuba’s government estimates it will need to attract $2.5 billion in direct foreign investment per year to solve the crisis. At the same time, authorities have said only $600 million will enter the country this year.

Cuba’s need for foreign money is desperate. The tourist boom from the U.S., and the revenue it brought with it, is over. Aid from close ally Venezuela is drying up as that country plunges further into its own crises. Export revenues have dropped by over $4 billion in the last four years.
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Miguel_Diaz_CanelThe Cuban parliament has chosen Miguel Díaz-Canel as its candidate to take over from Raúl Castro who stands down as president on 19 April.

In 2006, Raúl Castro took over from his brother, Fidel, who had led the country since 1959. On 24 February 2013, Castro was elected to a second term as president. On the same day, Castro announced he would retire at the end of his second term as president.

Also on 24 February, Díaz-Canel was named First Vice President, a process which began his grooming for the presidency. Even before this, he had a distinguished political career in Cuba. It was when he was a college professor that he began building ties to the Communist Party. He became a liaison to Nicaragua in 1987 and later became party secretary in his local province back in Cuba. Continue reading