Long Lines Form and Frustration Grows as Cuba Runs Short of Cash

HAVANA — Alejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM, but when it was almost his turn, the cash ran out. He angrily hopped on his electric tricycle and traveled several kilometers to another branch where he finally managed to withdraw some money after wasting the entire morning.

Long queues outside banks and ATM’s in the capital, Havana, and beyond start forming early in the day as people seek cash for routine transactions like buying food and other essentials. “There is money, yes, but not in the banks,” said Pérez, adding that most of the cash is being held not by salaried workers, but by entrepreneurs and owners of small- and medium-size business who are more likely to collect cash from commercial transactions but are reluctant to return the money to the banks.

Converting those Cuban pesos to other currencies poses yet another challenge, as there are several, highly fluctuating exchange rates in the island.

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Cuba runs short of cash, long lines form and frustration growsAlejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM, but when it was almost his turn, the cash ran out. He angrily hopped on his electric tricycle and traveled several kilometers to another branch where he finally managed to withdraw some money after wasting the entire morning.
Fonte: WashTimes - 🏆 235. / 63 Consulte Mais informação »

Long lines form and frustration grows as Cuba runs short of cashAlejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM. But when it was almost his turn, the cash ran out. He hopped on his electric tricycle and traveled several kilometers to another branch where he finally managed to withdraw some money after wasting the entire morning.
Fonte: AP - 🏆 728. / 51 Consulte Mais informação »