National Television has sparked outrage among Cubans by previewing a report on the Dollar-Only Supermarket located at 3rd and 70th in Miramar, claiming its patrons include "the general population." This Wednesday, the pro-government program Mesa Redonda will focus on the dollarization of the Cuban economy, featuring several journalistic pieces, one of which covers the 3rd and 70th Supermarket.
The journalist asserts that the store's clientele has varied opinions about the service and that "besides tourists, the general population also shops there." This statement overlooks the fact that most Cubans are paid in national currency, preventing them from purchasing basic goods in these dollarized markets, which are evidently aimed at collecting dollars from those receiving remittances, running private businesses, or being foreign residents in Cuba.
Prices in these stores are substantially higher than those found in many international markets, further restricting access for the local population and diminishing the appeal for so-called "tourists." The regime's attempt to normalize dollarization has been met with criticism from economists and Cuban citizens, who view the official narrative as an effort to mask the economic crisis and inequality caused by excluding those without access to foreign currency.
Many Cubans are eagerly anticipating Wednesday's program to see how the regime will justify this reality, which increasingly drives more people into food shortages and extreme poverty.
The Cyclical Problem of Dollarization in Cuba
In December 2024, the government approved a document regulating the "partial dollarization of the economy," presented by Prime Minister Manuel Marrero Cruz during the fourth ordinary session of the National Assembly. Marrero claimed the measure aims to reorganize key sectors while attempting to control the impact of the informal exchange market.
On January 3, 2025, the new Supermarket at 3rd and 70th opened in Havana, accepting only cash dollars or foreign cards. Its shelves were stocked with both domestic and imported products, contrasting starkly with the shortages in stores operating with Cuban pesos.
By January 5, 2025, the supermarket's opening had driven up the dollar's price in the informal market. The rising demand for currency pushed the dollar's rate to 340 Cuban pesos, further complicating the economic situation for those relying on CUP for survival in Cuba.
This week, CiberCuba revisited the store, confirming that it remains stocked, although some shelves are empty and it remains accessible only to a small segment of Cubans due to the high prices in dollars.
FAQs on Cuba's Dollarization
Why are dollar-only stores controversial in Cuba?
Dollar-only stores are controversial because they exclude the majority of Cubans who are paid in national currency, highlighting economic disparities and limiting access to essential goods.
What impact has the dollarization had on the Cuban economy?
Dollarization has led to increased economic inequality, a rise in the informal exchange rate of the dollar, and limited access to goods for those without foreign currency.
How has the Cuban regime justified the dollarization policy?
The Cuban regime claims that dollarization is intended to reorganize key economic sectors and control the impact of the informal currency exchange market.