The Cuban Economy: Performance, Problems, and Prospects

At the beginning of 2021, the Cuban economy finds itself in very precarious conditions. The presentation analyzes recent macroeconomic trends in Cuba with a focus on GDP growth, merchandise and service trade patterns, the external debt, and the country’s overall financial situation. It also identifies systemic problems and external factors that negatively affect the overall performance of the Cuban economy. On the internal front, Cuba continues to suffer from all the inefficiencies, red tape, and distortions of its state-dominated and overly centralized economy. Furthermore, to make things worse, Cuba’s external environment has deteriorated markedly over the past few years due to the economic and political crisis in Venezuela, stiffened sanctions imposed by the Trump administration, and the coronavirus pandemic. Finally, the presentation examines the future prospects of the Cuban economy in light of recently announced economic reforms and the start of the Biden presidency.

Dr. Spadoni will present his research in conversation with director of the Center for Inter-American Policy and Research (CIPR), Dr. Ludovico Feoli.

The event is free and open to the public, but registration is required: https://tulane.zoom.us/meeting/register/tJwsceyorT4rHNwhmjPWQXerGxGPGG0TCuBv

Paolo Spadoni is an Associate Professor in the Department of Social Sciences at Augusta University. He received his PhD from the Department of Political Science at the University of Florida. He also holds a Master in Latin American Studies from the Center for Latin American Studies at the University of Florida, and a Laurea in Political Science from the University of Urbino, Italy. Dr. Spadoni has carried out extensive research on the Cuban economy and the economic impact of U.S. sanctions against Cuba. He has published widely in scholarly and academic venues and is the author of Cuba’s Socialist Economy Today: Navigating Challenges and Change, Lynne Rienner, 2014, and of Failed Sanctions: Why the U.S. Embargo against Cuba Could Never Work, University Press of Florida, 2010.