WASHINGTON/HAVANA - The Treasury Department on Tuesday announced a series of regulatory changes to allow more U.S. financial support for small private businesses in Cuba, bolster internet-based services on the island and expand the Cuban people's access to certain financial services.The United States will allow small entrepreneurs on the Communist-ruled island to open U.S.
The moves seek to fulfill the Biden administration's long-delayed promise to ease restrictions to help Cuba's budding entrepreneurs cope with fallout from the Communist-ruled island's crippled economy. Those businesses now employ 15% of Cuban workers and accounted for around 14% of GDP, according to economy ministry statistics from late 2023.
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