Curriculum The Economy of Cuba
The Economy of Cuba
Cuba's economy: an overview, the 1959 revolution, the US embargo, Soviet subsidies and the Special Period, the fall of sugar, tourism and remittances, reform and private enterprise, the dual currency, blackouts, emigration, and a recap.
- Cuba at a Glance Cuba is a Caribbean island with a centrally planned economy, high education and health outcomes, and chronic shortages. 📄 Read-aloud
- The 1959 Revolution and Nationalisation After the 1959 revolution, Fidel Castro's government nationalised sugar plantations, banks and foreign-owned firms, reshaping the economy. 📄 Read-aloud
- The US Embargo Since the early 1960s, the United States has restricted trade and financial dealings with Cuba, and Cuba blames it for many hardships, while critics also point to internal policy failures. 📄 Read-aloud
- Soviet Subsidies and the Special Period Cuba relied on cheap Soviet oil and guaranteed sugar sales, and when the USSR collapsed in 1991, output fell by about a third, leading to the Special Period. 📄 Read-aloud
- The Fall of Sugar Cuba was once the world's sugar bowl, but output has collapsed, with many mills closed and the crop no longer a main earner. 📄 Read-aloud
- Tourism, Remittances and Medical Exports Cuba earns foreign exchange from tourism, money sent by relatives abroad and the export of medical services, notably doctors working overseas. 📄 Read-aloud
- The Economy of Cuba: Checkpoint 1 Quick checkpoint - five questions on the economy of cuba. 5 questions
- Economic Reforms: Self-Employment and Private Enterprise Since 2010, Cuba has allowed self-employment, and in 2021 it legalised small and medium private businesses. 📄 Read-aloud
- The Dual Currency and the 2021 Monetary Reform For decades, Cuba had two currencies, the peso for locals and the convertible peso for tourists, and it abolished the dual system in 2021, triggering inflation. 📄 Read-aloud
- Blackouts, Shortages and Infrastructure Ageing power plants, fuel shortages and lack of investment have caused widespread blackouts and made daily life harder. 📄 Read-aloud
- Emigration and Demographic Decline Since 2021, hundreds of thousands of Cubans have left, worsening labour shortages and population ageing. 📄 Read-aloud
- Cuba's Economy: Recap A recap of Cuba's economic history, model and challenges. 📄 Read-aloud