The Cuban activist Amelia Calzadilla has critiqued the state policies she believes drove the value of the dollar in Cuba to unprecedented heights. She also refuted the official allegations against El Toque, which the regime accuses of engaging in a supposed "financial terrorism" scheme aimed at destabilizing the nation's economy.
Calzadilla emphasized that El Toque merely reports on the daily fluctuations in Cuba's informal currency market, and that the rising dollar is not the result of any artificial manipulation, but rather economic dynamics initiated by the government itself.
In a detailed video shared on her Facebook profile, she highlighted that the turning point was the partial, later complete, dollarization during a global recession. This was initiated by Marino Murillo, head of the Permanent Commission for the Implementation and Development of the Ordering Task, and former Economy Minister Alejandro Gil Fernández. This policy forced citizens to seek foreign currency to purchase essential goods.
Calzadilla explained that by offering food, essential items, and appliances in stores requiring freely convertible currency, the government made the dollar crucial for everyday survival. "Without dollars, you cannot continue living," she declared.
The Impact of Currency Policies
The crisis worsened when currency exchanges (Cadeca) stopped selling foreign currency, pushing people towards the black market amid declining remittances and reduced influx of hard currency. Calzadilla argued that the basic economic principle of lower supply and higher demand elucidates the rising dollar value, as it became a scarce commodity akin to any product under competitive buying conditions.
She claimed everything, from food to informally obtained medicines, was pegged to foreign currency. "It was the Cuban state that led us to this point," she concluded.
Criticism of Government Measures
Calzadilla criticized the coercive measures aimed at curbing the informal market, asserting they would only instill fear, encourage bribery, and further increase prices. She also condemned the recent media campaign against El Toque as an attempt to distract from the real causes, asserting that their reporting merely highlights the country's "economic illness."
Regarding accusations of currency trafficking and tax evasion against the media outlet, Calzadilla dismissed them as baseless. She pointed out that El Toque neither buys nor sells currency, and independent media cannot legally register as businesses in Cuba. She advised citizens to download the outlet's app in case authorities attempt to block access.
Ongoing Economic Challenges
Calzadilla maintained that without economic freedom, labor incentives, and genuine production capacity, currency prices will remain uncontrollable. In a previous statement, she noted that it was the state that created a vital necessity for citizens to acquire dollars, implying they would otherwise face starvation. This refers to the dollar store initiative by Vice Prime Minister Gil, who has recently been tried by the regime.
In recent weeks, Cuban authorities have intensified their state-sponsored harassment campaign against El Toque. Government spokespersons and agencies accuse the outlet of "depressing the income level of the Cuban populace" and of "promoting a currency trafficking scheme" with alleged tax evasion. They have even suggested potential legal proceedings against its members and the possibility of listing the outlet among entities "linked to terrorism."
El Toque has mocked the official propaganda narrative, advocating for its journalistic work as an act of transparency for a populace deprived of reliable data.
Understanding Cuba's Economic Challenges
What led to the increase in the dollar's value in Cuba?
According to Amelia Calzadilla, the increase in the dollar's value was driven by state policies that forced dollarization and created a high demand for foreign currency, especially as essential goods were only available in stores requiring dollars.
How has the Cuban government responded to El Toque's reporting?
The government has accused El Toque of engaging in "financial terrorism" and currency trafficking. Authorities have launched a media campaign against the outlet and suggested the possibility of legal actions.