CUBA For the first time since the US embargo, Cuba will be able to use the US dollar starting tomorrow.
Cubans as well as financial institutions will be able to use the currency for certain transactions.
The US government announced the new guidelines this Tuesday, where banks are authorized to open and administer Cuban citizens accounts.
"Today's steps build on the actions of the last 15 months as we continue to break down economic barriers, empower the Cuban people and advance their financial freedoms, and chart a new course in U.S. – Cuba relations," said Treasury Secretary Jack Lew in a statement.
Furthermore, some Cuban citizens will be allowed to earn salaries in the U.S. as long as they dont pay special taxes in Cuba, specifically athletes, artists and performers will benefit from these new regulations.
Also, U.S. citizens will be allowed to visit Cuba for educational purposes on their own instead of expensive group tours.
With this, the Obama administration is looking to increase commerce and trips to Cuba, these new guidelines will take effect tomorrow.
Obama will visit Cuba on Sunday, making it the first U.S. presidential visit to Havana in 90 years.
Via El Nuevo Herald and El Universal
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Translated by: edgar.martinez@sandiegored.com
