Cuba |
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 Cuba Late Deal |
Cuba Late DealSo...you're looking for Cuba Late Deal. The Cubans will tell you that there is so much more to see and do in Cuba than just what you see in the brochure.
For several decades, Cuba received a large Soviet subsidy, whereby Cuba provided the Soviet Union with sugar and the Soviets provided Cuba with oil. Part of this oil was consumed by Cuba, while the remainder was sold on the world market for a profit of several billion dollars. In 1996, the Clinton Administration enacted the Helms-Burton law. This law states, among other things, that any foreign company that "knowingly traffics in property in Cuba confiscated without compensation from a U.S. person" can be subjected to litigation and that company's leadership can be barred from entry into the United States. Sanctions may be applied to non-U.S. companies trading with Cuba. This legislation was enacted after the shootdown of two civilian planes by the Cuban regime. For the next 30 years, Castro pursued closer relations with the Soviet Union until the demise of the USSR in 1991. Government efforts to lower subsidies to unprofitable enterprises and to shrink the money supply caused the semi-official exchange rate for the Cuban peso to move from a peak of 120 to the dollar in the summer of 1994 to 21 to the dollar by yearend 1999. Living conditions in 1999 remained well below the 1989 level. New taxes introduced in 1996 have helped drive down the number of self-employed workers from 208,000 in January 1996. A 10% fine, or surcharge, is levied for conversions from US dollars to the convertible peso, to discourage their entry to the country; this fine does not apply to other currencies, so it acts as an encouragement to tourists to bring currencies like Euros, pounds sterling or Canadian dollars into the country. Indeed, an increasing number of areas rich in tourism now also accept Euros directly for many transactions. Congress passed the Teller Amendment distancing the U.S. from any claims over Cuba and stating that its goal was an independent Cuba. (see: Spanish-American War). At the time of the U.S. intervention on the war (April 1898), the Cuban revolutionaries had fought the Spanish government troops to another stalemate, holding control of the eastern half of the island. The economy of Cuba is based on state ownership with some small scale private enterprise existing at the fringes. Tourism has become one of the largest sources of income for Cuba, and in 1993 the U.S. dollar was made legal tender (the country operated under a dual-currency system); this arrangement was, however, revoked on 25 October 2004. President Gerardo Machado, originally elected by popular vote in 1925, was constitutionally barred from reelection. He decided to stay in power anyway as the head of a military government with some support from the United States. In 1933, a number of liberal Cubans staged an uprising which deposed Machado and led to a series of short-lived governments. In return for this subsidy from the Soviet Union, Cuba supported communist movements throughout Latin America (Nicaragua, El Salvador, Guatemala and Chile) and Africa (Angola, Mozambique and Ethiopia). In Angola alone, Cuba had over 50,000 troops. The collapse of the Soviet Union in 1991 dealt Cuba a giant economic blow and when the Soviets stopped their 6 billion Dollars per year subsidy, the Cuban communist government called for "a special period" of recovery.
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