Cuba suppresses the rate on dollar remittances
- The decision comes at a time of financial difficulties for Havana
- Relations with U.S. initiatives to improve after Obama
Poster of a Western Union office in a street in Havana on an image of 2002.Jorge Rey / Getty Images
The tax was implemented in response to U.S. sanctions to international banks to change dollars into Cuba, making transactions more expensive on the island.
With this agreement, applicable to transactions conducted through the company Western Union, gain the two parties, according to the British public broadcaster, which stresses that the move comes at a time when the government of the island suffers major financial and shortage of foreign exchange.
Whitening BusinessThe Remittances are not as significant as in other countries in the area, although almost half the population receives the same source reported.
During the presidency of George W. Bush, they were very restricted. However, reopening of travel and remittances driven by the current U.S. president Barack Obama has had a positive response.
The BBC states that the volume of money moving these agencies so far represented only 10% of remittances coming across the Florida Straits, while the the rest came through informal channels (in violation of laws U.S.), mainly through "mules", people traveling with dollars.
With the new scenario, Washington will get a higher control the movement of money Cuba.
S: OCR LPPNEWS http://www.rtve.es/ Expert translates CopyRights FrontLine Results