On the national radio and television network, Cuban President Miguel Díaz-Canel Bermúdez, accompanied by the first secretary of the Communist Party of Cuba Raúl Castro, reported that the Ordering Task, referring to the process of monetary and exchange unification will come into effect as of January 1st, 2021. The exchange rate will be 24 Cuban pesos to one dollar.
In a radio and television appearance, the president recalled that in the last two Party congresses the fundamental concepts that should guide the work in this regard were specified, in particular in the VII Congress.
"In the conceptualization of the Cuban economic and social development model of the socialist model in its chapter I establishes, among other aspects, the redesign of the monetary, exchange, tax, price, wage and income system of citizens", said.
For its part, Guideline number 40 states: "Conclude the process of monetary and exchange unification, as a decisive process in the monetary order of the country."
Díaz-Canel argued that in the new economic and social strategy to boost the economy approved this year, "the monetary order is ratified as one of the fundamental components that is of transcendental importance and has a transversal impact on the entire economy."
Since last October, information on aspects of the so-called ordering task has been offered at the Round Table and at the last session of the National Assembly of People's Power. At the same time, there has been a wide dissemination on the subject in the press.
In turn, he added, extensive training has been carried out for those who must participate in this task, "which has been very useful as a feedback element in its final phase of preparation."
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