Cuba eases restrictions on loans to small businesses

[dipsydoodle]

The Cuban government has eased restrictions on loans to private borrowers in the latest measure aimed at boosting the island's troubled economy.

Individuals and small businesses can now borrow smaller amounts and have more time to pay back the government.

President Raul Castro had launched the programme two years ago as part of measures to reform Cuban socialism.

The minimum lending has been reduced from 3,000 to 1,000 pesos ($41; £67).

http://www.bbc.co.uk/news/world-latin-america-25538564

[Flatulo]

1. I'm glad to hear that after 50 years they're figuring out how wealth is created.

Private enterprise can exist nicely within socialist states.

Now let's lift the embargo.

[Judi Lynn]

2. Interesting seeing how their system will evolve, isn't it? Thanks. n/t

[Marksman_91]

3. Yes, evidently into a more capitalist one

Guess the whole communism thing didn't work out after 50 years, and it took them that long to realize that

[FrodosPet]

4. Perhaps Cuba can get more building supplies and carpenters with capitalism

Cuba has lots of trained doctors cutting sugarcane for a living. Perhaps they can cut some lumber and give people safe clean places to live?

[joshcryer]

5. Heh, I remember, on DU2.0...

...people were cheering the Cuban government for going to privatization or some shit.

It's so damn frustrating. It's like you get trolled when their system has clearly and utterly failed.

What the OP doesn't mention is that the loan changes are due to the overwhelming pressure Cuban businesses are facing. The government there wants to run them dry.

[Bacchus4.0]

6. it worked pretty well for the Castros though

at the expense of most everyone else.