古巴颁布实施外汇管理新规

Core Viewpoint - The Cuban government is implementing a new foreign exchange management, control, and distribution mechanism aimed at enhancing foreign exchange income and optimizing resource allocation [1][2] Group 1: New Mechanism Overview - The new mechanism is developed by the Ministry of Economy and Planning and the Central Bank of Cuba, consisting of a decree and three supplementary regulations applicable to domestic and foreign entities, individuals engaged in economic activities, local development projects, and international cooperation projects [1] - The core objective is to promote the coordinated development of various economic entities, including state-owned, private, foreign, and mixed-ownership enterprises [1] Group 2: Implementation Details - The new framework establishes specific foreign exchange transaction authorizations and replaces the existing liquidity fund accounts with an Allocation Mechanism for Foreign Exchange Acquisition (ACAD) [1] - The ACAD mechanism prioritizes foreign exchange allocation to economic entities that are included in the national plan but lack foreign exchange earning capabilities, requiring recipients to purchase foreign exchange with Cuban pesos [1] Group 3: Transitional Period and Principles - A transitional period is set for the new mechanism, with the Central Bank emphasizing the goal of restoring the peso's core currency status [2] - The policy primarily benefits exporters, foreign investment recipients, cross-border e-commerce, import substitution enterprises, and the Mariel Special Economic Zone [2] - The mechanism follows five principles: incentivizing export earnings, promoting import substitution, establishing legal foreign exchange acquisition channels, supporting cross-border e-commerce, and coordinating national funding needs [2] Group 4: Legal Foreign Exchange Sources - The decree outlines nine legal sources of foreign exchange for economic entities, including export income, overseas e-commerce, external financing, capital contributions, donations, sales in the Mariel Special Economic Zone, transactions on international payment platforms, purchases from the official exchange market, and central government allocations [2] - The Minister of Economy emphasizes that this mechanism is closely linked to the reopening of the foreign exchange market and lays the groundwork for exchange rate adjustments in the government's reform plan [2]