Cuba ends its dual-currency system
AFTER YEARS of dithering, Cuba is finally about to take the plunge. On December 10th the country’s president, Miguel Díaz-Canel, announced that on the first day of the new year it would abolish one of its two currencies. That is a big step towards ridding the socialist economy of distortions that thwart production, drain the treasury and keep people poor. But it leaves in place many enterprise-crushing rules and creates new problems that the government will struggle to overcome.
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