Cuban Remittances Facing Significant Delays
Cubans have raised concerns over significant delays in the collection of remittances sent to them from abroad, with reports indicating that the process can take more than a month in branches of the Banco Popular de Ahorro (BPA).
According to an unnamed Cuban quoted in the independent media outlet Cuban Diary, remittance payments for September were not received until December. The delay is particularly pronounced for remittances sent in euros, as reported by DDC. The provinces of Santiago de Cuba, Mayabeque, and Camagüey are reportedly experiencing the most significant delays in remittance deliveries.
A BPA employee confirmed that clients must physically visit the bank, place a reservation, and then wait to be notified by phone when the funds are available for collection. The wait time was described as unpredictable, with a potential waiting period of anywhere between a week to a month.
Independent economist Ángel Marcelo Rodríguez Pita highlighted that the waiting time in Havana can take two to three weeks, with even longer delays reported outside the capital. Pita also explained that residents of Switzerland or Italy living in Cuba are facing up to six-month delays in receiving their retirement pensions, particularly due to a lack of liquidity in euros.
The significance of remittances for many Cuban families cannot be understated, as they serve as the primary source of income. A recent report from the Cuban Observatory of Conflicts estimated that the Cuban regime has received a total of 300 million dollars in remittances and subsidies since 1960. Specifically, since 1993, Cuba has received 102,252 million dollars from Cuban emigrants, of which 52,252 million were in the form of family remittances. The remaining 50,000 million came in the form of packages containing food, medicine, and other essential items.
The significant delays in the collection of remittances have raised concerns about the impact on Cuban families who rely on these funds for their livelihoods. The Cuban government and banking authorities are facing mounting pressure to address these delays and provide a more efficient and reliable system for Cuban residents to access remittances.