Ulises Toirac Critiques Floating Exchange Rate: "Prices for Goods and Services Keep Rising"

The well-known actor, comedian, screenwriter, and director Ulises Toirac remains skeptical about the recent decline in the value of the dollar and euro in exchange for Cuban pesos, following the announcement by Prime Minister Manuel Marrero that a variable exchange rate (referred to by the regime as a floating rate) will be implemented in 2025. Toirac observes that while the euro and dollar decrease, the prices of goods and services continue to rise. He warns that "the State cannot sustain this rate indefinitely, leading to a 'disaster'. I'm no Nostradamus... just a humble shopkeeper," he humorously remarked on his Facebook profile.

Toirac believes that the repercussions of this 'new' government measure will likely result in the same old outcomes, although he puts it differently, saying, "It's obvious... like a soursop," using a Cuban expression. Following Marrero's announcement during the last parliamentary session in December 2024, the Cuban peso showed a slight appreciation in the Informal Market Representative Rate published daily by elTOQUE and reported by CiberCuba. According to their tracking, the dollar fell from 325 pesos between December 14 and 17 to 300 pesos by December 30.

Economic Implications and Predictions

Experts suggest the drop might be attributed to an influx of Cubans returning to the island for the New Year, increasing currency circulation, which, by market law, lowers prices when supply exceeds demand. However, Toirac hints that this might also be due to government intervention, which raises concerns that once this stops, the exchange rate could soar.

Toirac's analysis quickly sparked comments, such as from Gabriel Jarquin Velázquez, expressing frustration that the regime continues to claim that "Cuba's problem is economic, not political." Another Facebook user, Ana Judith Rizo, jokes about the idea of having a Council of Ministers made up of shopkeepers, referencing the comedian's straightforward analysis.

Public Reactions and Criticisms

In line with these thoughts, Zuren Matutes Fabelo criticizes the government for "playing communism to maintain absolute control over all money flow," pointing out that leftist economic policies have repeatedly failed. Conversely, José Luis Villa Zulueta expresses little confidence, describing the government's approach as "blindly throwing stones, hoping to hit something," alluding to the trial-and-error strategy since the implementation of the Tarea Ordenamiento in 2021, which the regime admitted failed by 2023.

Supporting Toirac's view, Facebook user Eliéser Díaz warns of a "boomerang effect" from this new policy. "How long will these experiments continue?" questioned Noel Domínguez. Kuba King sums it up bluntly, "I predict 400 pesos by February... Call me crazy," to which Toirac replied that he actually might be underestimating.

Reflections on Six Decades of Experience

Ulises Toirac humorously reflects on his sixty years of experience in Cuba, which provides him with a keen sense of what might be in store for the island in 2025. "Living through more than sixty versions of economic and labor states gives you a way to assess accurately, a sense of foresight. Heavy thinkers call it 'comparative states'," he wrote on Facebook.

He describes 2024 as "the worst year," but hesitates to claim 2025 will be any better. "This is undoubtedly the worst, although I admit it could get worse. My age has taught me that 'it can't get worse' is a lie. If you're hit by a car, it drives off, no one's around, your phone's dead, and it's raining... there's still a chance you might have an accident on top of it all, just to give an example. There's always a way to be worse off. Trust me," he added with humor.

Despite a challenging 2024, both personally and socially, characterized by severe economic crises, Toirac maintains a touch of optimism: "Still, I don't stop working, writing, creating, planning. Living is about moving forward. Anything else would be surviving like a crab, and life is too short to pause and hibernate," he concluded.