Cuban President Miguel Díaz-Canel has announced economic reforms to attract investment and involve Cubans abroad in the economy.
A fisherman prepares his fishing rod in front of the Colombian Navy ship ARC Caribe, docked at a pier in Havana, Cuba, after arriving with humanitarian aid, Friday, June 12, 2926.
on Friday announced a package of economic reforms aimed at attracting investment, expanding participation by Cubans living abroad in the economy and decentralizing parts of the country’s administration. The president did not provide details about the measures or a timetable for their implementation but said during remarks to state media that it is now “time to change” and that the country “simply cannot continue on its current course.
”“Every opportunity in the midst of a crisis must be seized as a moment for takeoff, as a moment for growth,” Díaz-Canel said, according to a statement from the presidency that was republished by state-run media.
“We have established a group of priorities to confront this situation,” he added without offering specifics.in an effort to pressure the island’s government to change its political and economic model, exacerbating challenges that have persisted for about five years. Díaz-Canel said officials are evaluating measures related to foreign trade, exports, supply chains and logistics.
Without elaborating, he suggested the government could eliminate mandatory state intermediaries in import and export operations and grant tariff benefits to those who bring raw materials into the country for production. The ship, which departed Cartagena in early June, crossed the Havana Bay channel early in the morning flying the Colombian flag and escorted by a small Cuban auxiliary vessel, The Associated Press confirmed.threatened tariffs on any country that sells or provides oil to Cuba.
The move has deepened a preexisting crisis caused by U.S. sanctions. Washington is pressing the Cuban government to release political prisoners and move toward political and economic liberalization in return for a lifting of sanctions. Copyright 2026 The Associated Press. All rights reserved.
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