A resident of Esmeralda, Camagüey, has exposed the new banking measures affecting workers attempting to collect their wages. Geldy Yoney López Pérez, a broadcaster, program director, writer, and sound engineer at CMHE Radio Esmeralda, voiced her frustration, stating, "Cubans live from one stress to another."
On her Facebook page, López Pérez described how, after a month of labor, residents are now required to receive their salaries in small portions because of the cash shortage at local banks. "As if the salary wasn't already insufficient, it’s now a hassle to access it. A thousand pesos per day. Raise your arms to the sky and say: Thank you, Lord," she lamented.
The struggle to access cash is a familiar scene across Cuba. It is common to see people lining up from the early hours to withdraw their pensions or salaries, enduring a repetitive monthly ordeal.
Recently, news emerged about the staff at Santiago de Cuba’s Provincial Hospital, where as of December 12, the government had not yet paid the workers for November. This delay has made it difficult for employees to buy food for the New Year's Eve celebrations, with prices rising as the year’s end approaches.
A doctor from the hospital brought the issue to CiberCuba, pointing out that their salaries barely cover basic needs for a month, and now their rights are further violated. "We spent the month watching patients die due to lack of medicines and supplies. Every day, diagnosing becomes harder because of reagent shortages. The food provided is terrible, and there are no conditions for overnight shifts, and now, to top it all, our pay is delayed," she criticized.
Meanwhile, in Jovellanos, Matanzas, the shortage of banknotes has forced workers to endure long queues after work just to receive a fraction of their wages. To exacerbate the situation, banks only disburse funds on Tuesdays and Thursdays, compelling many to miss work to collect their pay.
Reports indicate that from the 4,000 pesos a worker might earn, they are only allowed to withdraw 2,000. Making matters worse, the money is given in low-denomination bills such as 5, 10, or 20 pesos. This creates significant inconvenience since many small businesses refuse these notes, leaving customers struggling to find viable alternatives.
Understanding the Cash Crisis in Cuba
What is causing the cash shortage in Cuba?
The cash shortage in Cuba is primarily due to economic mismanagement and a lack of sufficient currency circulation within the country, exacerbated by the government’s financial policies.
How are workers affected by the cash shortage?
Workers are forced to withdraw their salaries in small increments, leading to long queues and significant delays in accessing their wages, which disrupts their ability to purchase necessities.
What challenges do low-denomination bills present?
Low-denomination bills are often not accepted by small businesses, creating difficulties for individuals to make purchases, which adds to the frustration and inconvenience faced by the public.