Ricardo Herrero Profile picture
Jun 4, 2020 4 tweets 2 min read Read on X
For every $1 in remittances sent to #Cuba, in order to deny a 0.13 tax to the Cuban military, the Trump administration intends to block the other 0.84 meant to go to Cuban families.

All in the name of “supporting the Cuban people.”

It really doesn't get dumber than that.
I’ll be the first to say the #Cuban government should lift its tax on remittances. But you have to be pretty thick in the skull to think this measure by the State Dept will encourage them to do it.
This will only open the market for third-country money transfer agencies to fill and incentivize money laundering through informal channels. Not to mention pile on even greater hardship on the Cuban people who this farcical policy pretends to “support.”
A correction: official exchange rate in #Cuba is 1 USD = 0.87 CUC (gov pins CUC to the dollar & charges a tax). But the current rate for Western Union transfers is 1 USD = 0.97 CUC. So rates change, but ridiculousness of my example holds, unless contracts get grandfathered in.

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with Ricardo Herrero

Ricardo Herrero Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @ric23

Oct 18, 2021
Para racionalizar la batalla que enfrenta #Cuba hoy como una contra EL IMPERIO—y no ENTRE CUBANOS—tienes que:

1) excluir a americanos descendientes de cubanos de tu definición de “cubano.”

2) ignorar que los políticos que más protegen a Helms-Burton son de descendencia cubana.
3) ignorar a las mayorías de votantes cubanos exiliados o emigrados en la Florida que eligen y re-eligen a estos políticos para que los representen en el congreso.
4) ignorar que estos exiliados y emigrados salieron de Cuba por varias razones a través de 62 años pero todos con, por mínimo, una en común: la Revolución no les concedió un futuro satisfactorio en su país natal. Y de eso nunca se olvidan.
Read 5 tweets
Oct 16, 2021
Todo un debate bajo mi twit previo sobre si el gobierno estadounidense debería sancionar a una pastelería cubana.

Ya no hay colmo. 🧵/1
Las sanciones de EEUU o 1) congelan activos en el exterior, 2) prohiben a estadounidenses, y en ciertos casos 3) entidades internacionales, hacer negocio con la entidad sancionada.

Estamos hablando de una pastelería en Santa Clara. /2
Al riesgo de ser intrépido, dudo que el dueño tenga activos en el exterior. Su mercado no son los turistas yumas. Su mercado principal es local. La sanción no lo afectará mucho. /3
Read 5 tweets
Oct 2, 2020
New #FIUCubaPoll shows that despite 54% of #Cuban-Americans still support the continuation of the embargo, majorities also support the temporary suspension of sanctions during the Covid-19 pandemic, something the Trump administration has refused to do.
Of the 1,002 #Cuban-Americans surveyed in the 2020 #FIUCubaPoll, 57% support the temporary suspension of trade sanctions on Cuba during the Covid-19 crisis; 69% support food sales and 71% support medicine sales to Cuba by U.S. companies. (starting thread) /1
Read 16 tweets
Sep 23, 2020
The race in Florida must be super tight if after three and half years, and imposing all sorts of failed sanctions that mostly harm #Cuban families, Trump FINALLY denies his country club cronies their secret stashes of Cuban rum and cigars. miamiherald.com/news/nation-wo…
The measures are low hanging fruit that allow Trump to say he's tightening the squeeze on #Cuba and won't allow anyone to go sing to Castro when he visits Miami on Friday. In short term they'll have no practical impact since Cuba is still not accepting US travelers due to Covid.
Once travel resumes, no more rum & cigar souvenirs as in the Bush and early Obama years; no lodging in any hotels, although flights are already so limited that the private casa particular market should be able to absorb demand; and...
Read 4 tweets
Jun 16, 2020
Three years ago today, President Trump flew to Miami to announce he was "cancelling" Obama's #Cuba policy. He said he'd "seek a much better deal for the Cuban people" and help them "form businesses and pursue much better lives." How well has that worked out for Cubans so far? 1/ Image
Are Cuban entrepreneurs better off today than they were three years ago? Far from it. Trump's travel restrictions have dealt a fatal blow to a burgeoning private sector largely dependent on the purchasing power of U.S. visitors. 2/ nbcnews.com/news/latino/cu…
Are Cuban families better off today than they were three years ago? The U.S. eliminated donative remittances, limited family remittances to $1,000 per member every 3 months, and formal cash transmitters are now at risk of being eliminated altogether. 3/ wlrn.org/post/will-new-…
Read 18 tweets
Jun 3, 2020
U.S. remittances to #Cuba are channeled through one of these entities. It is inhumane and the height of hypocrisy for Sec. Pompeo to claim the Trump Administration stands with the Cuban people while attempting to cut off remittances to Cuban families in the middle of a pandemic.
FINCIMEX is the entity through which Western Union sends family remittances to #Cuba along with other money transfer service providers. It also channels Airbnb money to casas particulares on the island.
While we’ll have to wait and see if these and other licenses get grandfathered in (few details provided; announcement apparently rushed to wish Raul Castro a happy birthday or some such petty nonsense) their intent to disrupt remittances is clear.
Read 4 tweets

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us!

:(