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NEWS
August 4, 1990 | DON A. SCHANCHE, TIMES STAFF WRITER
After months of scurrying around the world in search of hard-currency deals to shore up a crumbling economy, Cuban trade delegations are returning to Havana mostly empty-handed, suggesting that even with continued Soviet support, Fidel Castro's doggedly orthodox communism will not survive the radical transformations of his former East Bloc trading partners. "The situation is getting worse and is going to get a lot worse," said a foreign diplomat with long experience here.
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WORLD
May 8, 2008 | Carol J. Williams, Times Staff Writer
Pushed to the fringes by a money-driven social divide, Rosa is what Cubans call a "marginal" person. She's lived all of her 72 years in a shabby enclave of Marianao, a neighborhood where crude wooden cottages, their rotting boards held together with coats of paint, descend into a gully strewn with refuse and sewage.
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BUSINESS
July 27, 1995 | Times Staff and Wire Reports
Foreign Exchange Houses Open in Cuba: Cuba opened its first two foreign exchange houses offering hard currency transactions and credit card services, banking officials said. The exchange houses will buy and sell foreign currencies for U.S. dollars, the officials told the Cuban domestic news agency AIN. They will also cash traveler's checks and process cash withdrawals by holders of Visa and MasterCard, the only two credit cards accepted in Cuba.
NEWS
November 28, 1999 | MARK FINEMAN, TIMES STAFF WRITER
There are occasional lines now at the ATMs that have been popping up here this year, and the automated teller machines are dispensing American dollars to Cubans with cash cards sent from abroad. There also is a wait outside the new Western Union office that advertises "Money in Minutes" at Havana's modern Carlos III Shopping Mall, where Cubans wander through state-owned music shops, appliance stores, supermarkets and video rental counters that accept only U.S. currency.
BUSINESS
November 15, 1988 | DON A. SCHANCHE, Times Staff Writer
Luxury resorts that are fit for capitalists but off-limits to ordinary Cubans are sprouting like beach umbrellas throughout Cuba, lending a distinctly incongruous air to the hard-line Communist country's austere and morally stringent revolution. Topless and sometimes nude bathers from Canada, Western Europe and Latin America frolic and sunbathe on the soft, white sand beaches of Cayo Largo, a small island that guards the Bay of Pigs.
NEWS
September 21, 1989
Cuba issued a decree that bars citizens working for foreign firms from receiving any part of their pay in U.S. dollars. According to the decree, Cubans may only be paid in pesos, the national currency, which is not convertible into hard currency on the world money market. The measure follows a crackdown on the amount of hard currency that can be brought into the country by exiles visiting their families.
NEWS
November 28, 1999 | MARK FINEMAN, TIMES STAFF WRITER
There are occasional lines now at the ATMs that have been popping up here this year, and the automated teller machines are dispensing American dollars to Cubans with cash cards sent from abroad. There also is a wait outside the new Western Union office that advertises "Money in Minutes" at Havana's modern Carlos III Shopping Mall, where Cubans wander through state-owned music shops, appliance stores, supermarkets and video rental counters that accept only U.S. currency.
NEWS
August 24, 1994 | WILLIAM D. MONTALBANO, TIMES STAFF WRITER
At a new department store in the seaside suburb of Miramar--dollars only, please--Cuban shoppers browsed Tuesday along well-stocked aisles: rice cookers from China, boom boxes from Taiwan, Mexican toothpaste, Brazilian paints, Black Flag insecticide made in the United States, a Sears refrigerator for $1,117. A child's Mickey Mouse water toy costs $14. Inner tubes and rubber rafts were sold out, a sales clerk said with a smile.
WORLD
May 8, 2008 | Carol J. Williams, Times Staff Writer
Pushed to the fringes by a money-driven social divide, Rosa is what Cubans call a "marginal" person. She's lived all of her 72 years in a shabby enclave of Marianao, a neighborhood where crude wooden cottages, their rotting boards held together with coats of paint, descend into a gully strewn with refuse and sewage.
NEWS
November 14, 2009
Cuba: An article in Section A on May 8, 2008, about Cuba's dual currency system said the nation's convertible peso had been introduced four years earlier. The currency began circulating in 1994, mainly for government purposes, and was issued for wider distribution years later. The article also reported that a Cuban identified as Rosa watched the country's three state-run television channels. Cuba has five state-run television channels.
BUSINESS
July 27, 1995 | Times Staff and Wire Reports
Foreign Exchange Houses Open in Cuba: Cuba opened its first two foreign exchange houses offering hard currency transactions and credit card services, banking officials said. The exchange houses will buy and sell foreign currencies for U.S. dollars, the officials told the Cuban domestic news agency AIN. They will also cash traveler's checks and process cash withdrawals by holders of Visa and MasterCard, the only two credit cards accepted in Cuba.
NEWS
August 24, 1994 | WILLIAM D. MONTALBANO, TIMES STAFF WRITER
At a new department store in the seaside suburb of Miramar--dollars only, please--Cuban shoppers browsed Tuesday along well-stocked aisles: rice cookers from China, boom boxes from Taiwan, Mexican toothpaste, Brazilian paints, Black Flag insecticide made in the United States, a Sears refrigerator for $1,117. A child's Mickey Mouse water toy costs $14. Inner tubes and rubber rafts were sold out, a sales clerk said with a smile.
NEWS
August 4, 1990 | DON A. SCHANCHE, TIMES STAFF WRITER
After months of scurrying around the world in search of hard-currency deals to shore up a crumbling economy, Cuban trade delegations are returning to Havana mostly empty-handed, suggesting that even with continued Soviet support, Fidel Castro's doggedly orthodox communism will not survive the radical transformations of his former East Bloc trading partners. "The situation is getting worse and is going to get a lot worse," said a foreign diplomat with long experience here.
NEWS
September 21, 1989
Cuba issued a decree that bars citizens working for foreign firms from receiving any part of their pay in U.S. dollars. According to the decree, Cubans may only be paid in pesos, the national currency, which is not convertible into hard currency on the world money market. The measure follows a crackdown on the amount of hard currency that can be brought into the country by exiles visiting their families.
BUSINESS
November 15, 1988 | DON A. SCHANCHE, Times Staff Writer
Luxury resorts that are fit for capitalists but off-limits to ordinary Cubans are sprouting like beach umbrellas throughout Cuba, lending a distinctly incongruous air to the hard-line Communist country's austere and morally stringent revolution. Topless and sometimes nude bathers from Canada, Western Europe and Latin America frolic and sunbathe on the soft, white sand beaches of Cayo Largo, a small island that guards the Bay of Pigs.
WORLD
March 22, 2008 | From Times Wire Reports
Cubans have a new vehicle for expressing opinions: letters to the editor of the ruling Communist Party's newspaper, Granma. Letters for and against reforms under consideration by new President Raul Castro were published by Granma. One writer called for the elimination of the dual currency system, a major source of complaint among Cubans, who are paid in Cuban pesos but must buy many consumer goods using Cuba's hard-currency convertible pesos worth 24 times more. Publication of the letters was a novelty in a country where the press is controlled by a one-party state that allows no independent media and has a record of suppressing dissent.
NEWS
August 5, 1993 | From Associated Press
Cuba's government, struggling with its worst economic crisis ever, replaced the ministers of agriculture, sugar and communications and the head of the state finance committee. The sweeping changes in the Communist government's economic team come as Cuba faces a $450-million shortfall in anticipated sugar revenues this year because of spring storms and a lack of fertilizer, fuel and spare parts once supplied by the now-vanished Soviet Union.
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