Faced 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.