24 Feb '17, 5pm

7 reasons to watch #Cuba’s renewables sector, according to @REWorld https://t.co/rW2kRUGIMl

7 reasons to watch #Cuba’s renewables sector, according to @REWorld https://t.co/rW2kRUGIMl

This currency uncertainty is particularly real in the post-Fidel era as Raúl Castro and his new government want to reform, however, without concrete plan as to how and when. In 2013, Cuban authorities announced that the dual currency system would be removed, but no details of how or when the change would be implemented were revealed. In 1994, China bit the bullet and devalued the RMB to 8.7 to the dollar (much lower than the official rate of 5.8 to dollar), then unified abolished its famous (and infamous) Foreign Exchange Certificates (FEC) when foreigner could only use FEC. But in Cuba, unifying the twin highly divergent currencies will be trickier because it would lead to massive devaluation of Cuban currency. If no currency indexation is provided from the government, significant devaluation poses a great threat to investors’ revenue.

Full article: http://www.renewableenergyworld.com/articles/2017/02/powe...

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