Cuba has undergone its most significant political change since the 1959 revolution in electing Miguel Díaz-Canel as its new president. He takes office at a time of growing economic difficulties in the country. According to the World Bank, the economy is growing at its slowest pace since the 1990s.
In 2011, Raúl Castro implemented reforms to the communist system which allowed some Cubans to buy and sell houses as well as become self-employed. Today, there are over half a million self-employed Cubans. These entrepreneurs had advocated for further economic reforms to help the private sector grow.
However, the ruling Communist Party was unwilling for further changes to take place. Last year, Castro halted the issuing of most new licenses for private enterprises. In doing so, he took responsibility for what he described as his earlier “errors” in the reforms. Continue reading