Easing embargo would boost Cuba's moribund economy

A street vendor waits for customers in a street in Havana, on December 18, 2014Easing the 54-year-old US trade embargo would be breath of fresh air for communist Cuba’s moribund economy, giving greater life to recent reforms by the island’s communist regime. The principal features of the economic sanctions imposed since 1960 will remain in place unless President Barack Obama persuades the US Congress to lift the embargo. Thus for the first time in decades, American visitors will be able to use their credit cards while in Cuba and American entities will be able open accounts with Cuban financial institutions. Every year, more than 90,000 US citizens travel to Cuba, despite restrictions on how much they can spend and on the Cuban products they can bring home.

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