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HomeLatestCuba Accuses Online News Site of Colluding with US to Destabilize Economy
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Cuba Accuses Online News Site of Colluding with US to Destabilize Economy

Tensions escalate between Cuba’s government and independent news outlet El Toque as accusations fly regarding the manipulation of currency exchange rates to undermine the island’s economy.

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The crux of the dispute lies in El Toque’s publication of a Cuban peso-to-dollar exchange rate significantly higher than the official rates set by President Miguel Diaz-Canel’s administration. Cuba’s state-run media, notably CubaDebate, accuses El Toque of engaging in “financial terrorism,” alleging clandestine financing from the United States to inflate the peso’s value artificially.

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In response, El Toque refutes these claims, defending its online exchange rate tracker as a transparent and data-driven tool. The outlet asserts that Cuba’s accusations are baseless attempts to deflect blame for the country’s economic woes.

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The dispute unfolds against the backdrop of a precipitous decline in the value of Cuba’s peso, exacerbating economic hardships for its citizens grappling with inflation and shortages. The demand for dollars intensifies as Cubans seek stability amidst currency fluctuations and an increasingly dollar-dependent economy.

While El Toque maintains its innocence, independent economists attribute the peso’s devaluation to structural economic challenges, including fiscal deficits and reduced domestic production and exports. Despite government assurances of intervention, concrete measures to stabilize the currency remain elusive.

As the war of words persists between Cuba’s authorities and El Toque, the broader implications of this conflict underscore the complexities of navigating economic turmoil amid geopolitical tensions.

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