Cuban banks contribute to the reorganization of the country’s economy

GUANTÁNAMO, Cuba, May 12 (ACN) The flexible actions of the Bank of Credit and Commerce (BANDEC) for the benefit of agriculture and the monetary reform—Task Ordering—confirm the role that this entity of the global economy plays for the benefit of food production for Cubans.

“Unlike the plundering capitalist banks, Cuban banks serve the people,” Fernando González López, president of the National Association of Cuban Economists and Accountants, an organization that together with the Ministry of Agriculture recently evaluated the profitability of Cuban agricultural cooperatives, told ACN.

His words were endorsed by Yudalmys Michel Parra, BANDEC’s official in charge of local agricultural matters and liaison officer for more than 5,000 producers favored by the recent reduction in the number of formalities to apply for financing.

She stressed that the procedural policy is one of 63 new measures taken by the Cuban State to boost food production.

Michel Parra cited other banking concessions in support of those directly engaged in the efforts to make Cuba self-sufficient in terms of food production, including facilities for those who have a history of proper compliance with their credit obligations.

These licenses reflect that the Cuban banking system is responsible and as good as its word when it comes to the welfare of the people (including the fight against speculative and abusive prices), which is rewarded in Cuban society and, therefore, an example to be followed.