Banking / Investment in Cuba
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CUBA, 2015/12/02
Since the collapse of the Soviet Union in 1989 and Cuba’s subsequent hardship while transitioning to a additional decentralized economy in its “Appropriate Period,” Cuba has implemented significant economic changes. While preserving socialist gains finished during the Revolution, it has continued to develop elements of capitalism initial employed by Fidel Castro in response to severe economic times in the 1990s. Cuba has undergone a series of recent transformations in its ability and willingness to attract the kind of foreign investment that is essential in developing and sustaining economic increase.
Until Fidel Castro began decentralizing national economic control by allowing inflows of foreign capital and other outside investment , the Cuban economy contracted drastically. Next the Soviet Union began to dissolve in 1989, Cuba suffered an immediate 75 to 80 % drop in foreign exchange receipts as Soviet subsidies dried up.
Per-capita gain contracted by 34 % from 1990 to 1993 because of a lack of foreign investment and access to international financial institutions, coupled with a hardened U.S. trade embargo.3 Since that Cold War period, Cuba has continuously opened up to foreign investment and has used it to develop struggling elements of the economy. As the Cuban government’s control of the economy has gradually diminished, the island country has seen tremendous improvements in its ability to increase and sustain economic increase.
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ARGENTINA, 2013/03/13
While Panama's banks held their lead as the biggest banks in Central America, Nicaragua steamed ahead in terms of return on capital and return on assets. HSBC remains the leader of The Banker’s Central American rankings with a Tier 1 capital up by 8.38% to $1.23bn in 2011, the last available financial year.
