The severe shortage of cash in Havana's ATMs has forced residents into long queues at local banks. This situation was observed by CiberCuba during a tour on Thursday, December 26, and Friday, December 27, critical days when Cubans desperately need cash for New Year's Eve shopping.
Frustrated citizens shared their distress over spending hours in line without assurance of withdrawing the desired amount. "There's no money... My family went to the bank yesterday, and they only give out 3,000 pesos, no more," lamented one exasperated resident.
The issue extends beyond the capital. In provinces like Matanzas, the crisis is exacerbated by power outages and lack of internet access. "We're going to spend New Year's without the ability to use our own money for necessary purchases. Some of us have been paid, but we can't access our full salary," expressed another frustrated individual.
This turmoil comes months after Díaz-Canel blamed the private sector for the cash shortage, claiming that private enterprises create a "withdrawal effect" on Cuban banks. At that time, the leader emphasized that state entities are not at fault for the scarcity, but rather private activities worsen the situation.
Yet, the harsh reality seems to impact everyday citizens, who face endless lines, strict cash withdrawal limits, and a growing mistrust in the banking system. As the New Year approaches, many Cuban families are bracing for a challenging period marked by financial uncertainty and hardship.
Understanding Cuba's Cash Crisis
What is causing the cash shortage in Cuba?
The cash shortage in Cuba is attributed to multiple factors, including claims by the government that private sector activities are extracting cash from banks, while logistical issues like power outages and limited internet access worsen the situation.
How are Cubans coping with the lack of cash?
Cubans are enduring long waits in bank lines and facing strict limitations on cash withdrawals. Many are unable to access their full salaries, leading to financial strain, especially during the holiday season.