Cuban Banking System Has Collapsed. The banking system of cuba has reportedly collapsed. Cubans had been unable to deposit dollars in cash into their accounts at banks and other financial institutions for almost two years.
To cuba after the system collapsed more than three months earlier,. Omar everleny pérez, a cuban economist and university professor, says the main culprits are the government’s growing fiscal deficit, the nonexistence of banknotes with a denomination greater than 1,000 cuban pesos (about $3 in the parallel market),.
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