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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: