The head of Government stated that the mechanism repeals Resolution 115/2020 of the Economy and Planning Ministry, and introduces changes, including restructuring foreign currency accounts of state entities.

He also said that closed financing schemes for exporters would be approved, the payment of customs in foreign currency for the state sector’s imports would be established, and the collection of foreign currency from the port sectors would be implemented gradually and selectively.

Marrero announced that all domestic transactions will be made in national currency, except the Mariel Special Development Zone, authorized retail and wholesale trade institutions, foreign entities, and others that may be approved.

Marrero acknowledged that although Cuba still does not have a foreign exchange market that allows for a stable purchase of foreign currency, a draft has been created to show the steps to be taken to establish a new exchange rate.

ef/iff/ro/mks