The Cuban government revealed on Wednesday its plan to expand dollar-based stores across the entire country, as part of a strategy to partially dollarize the economy. Ernesto Martínez, the First Vice President of Corporación Cimex S.A., conveyed during the official Mesa Redonda broadcast that this is a gradual initiative aimed at increasing the presence of such establishments, particularly in smaller markets that are easier to supply.
"The inclusion of these stores has been coordinated with the consensus of Cimex and Tiendas Caribe, following the principle of establishing new supermarkets in smaller, easily supplied markets. This is particularly focused on areas linked to real estate and others associated with upcoming projects that will enable both wholesale and retail sales nationwide, albeit gradually," Martínez explained.
This announcement arrives amidst a complex economic backdrop characterized by the partial dollarization of the Cuban economy. The regime has promised to maintain accounts in Freely Convertible Currency (MLC) within the island's banks, while justifying the dollar's presence in the economic landscape. Critics argue that this move, which includes stores operating in a foreign currency, exacerbates inequality, as most Cubans lack access to dollars and continue to earn wages in the national currency.
Recently, the Supermarket at 3rd and 70 in Miramar, Havana, was inaugurated, touted by the regime as a space "accessible" to the general population, despite the high dollar prices making it unattainable for many Cubans. This supermarket, which opened its doors in January 2025, exclusively accepts payments in cash dollars or through foreign cards, sparking significant backlash among citizens who rely on the Cuban Peso (CUP).
The dollarization trend is seen by many as a tactic to mask the underlying economic issues, such as food shortages and supply deficits plaguing stores that operate with the national currency. "These supermarkets merely serve to collect dollars from those receiving remittances, owning private businesses, or being foreign residents in Cuba," commented a social media user.
Understanding Cuba's Economic Shift to Dollar Stores
Why is the Cuban government expanding dollar stores?
The Cuban government is expanding dollar stores as part of a partial dollarization of the economy, aiming to stabilize it by increasing the availability of goods in smaller, easily supplied markets.
What challenges do Cubans face with the introduction of dollar stores?
Many Cubans face difficulties accessing goods in dollar stores since they earn salaries in the national currency, while high dollar prices make these stores unaffordable for a large portion of the population.
How does dollarization affect inequality in Cuba?
Dollarization increases inequality because it creates a divide between those who have access to foreign currency through remittances, private businesses, or foreign residency, and the majority who do not.