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- The dual economy of Cuba was developed after the dissolution of the Soviet Union, which caused major economic changes on the island. Tourism was regarded as the only stable sector of the Cuban economy and became the subject of policy changes to enhance its development. Cuba legalized the use of the US Dollar and created a dual currency system, one based on the dollar and the Cuban convertible peso with the other system based on the Cuban peso. Different institutions and businesses operated only one side of the currency divide. The Cuban peso, used mostly by Cuban nationals, cannot buy imported goods. The goal of the dual economy was to create one economic sphere designed to utilize foreign investment, while keeping it separate from the other economic sphere of domestic activities. There are various practical applications of the dual economy and many informal popular titles have been developed from them. Cuban nationals were prohibited from entering all tourist facilities except as employees, and the entire tourist economy operates under the Cuban convertible peso, which was originally illegal for Cuban nationals to use. This practice of segregation has been informally called "tourist apartheid". Since its inception the prohibitions have been slowly reformed and Cuban nationals may now use the Cuban convertible peso. The once prohibition to use the CUC by Cuban nationals and the later material inequality caused by most luxury goods only being accessible in the dollar economy has led critics to name the currency system "dollar apartheid". The Cuban government also promotes its healthcare facilities for the use of foreign customers, which has been charged to limit the healthcare of Cuban nationals for the preference of foreigners. This medical system has been informally labeled "medical apartheid" by critics. (en)
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- The dual economy of Cuba was developed after the dissolution of the Soviet Union, which caused major economic changes on the island. Tourism was regarded as the only stable sector of the Cuban economy and became the subject of policy changes to enhance its development. Cuba legalized the use of the US Dollar and created a dual currency system, one based on the dollar and the Cuban convertible peso with the other system based on the Cuban peso. Different institutions and businesses operated only one side of the currency divide. The Cuban peso, used mostly by Cuban nationals, cannot buy imported goods. The goal of the dual economy was to create one economic sphere designed to utilize foreign investment, while keeping it separate from the other economic sphere of domestic activities. (en)
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- Dual economy of Cuba (en)
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