The Cuban Government has dismissed Alejandro Gil, the Minister of Economy, in the midst of the largest economic adjustment plan in decades. This comes after the postponement of a significant increase in gasoline prices and other transportation fees. The package, announced in December, includes cuts in subsidies and increases in various service fees. The plan has been criticized by independent experts and aims to address the country’s economic struggles, including a drop in GDP and a significant fiscal deficit.
Gil’s replacement will be Joaquín Alonso Vázquez, the former president of the Central Bank of Cuba, and other changes have been made in various ministries. These changes come after the government’s admission that it has not met its economic objectives, particularly after the monetary reform in 2021. The exchange rate between the Cuban peso and the dollar has also been a point of concern, soaring on the black market. These changes reflect the government’s efforts to address the country’s economic challenges.