Thursday, November 10, 2016

Of Foreign Investment and Half-Closed Banks

Of Foreign Investment and Half-Closed Banks / 14ymedio

14ymedio, Havana, 5 November 2106 – Cuts in energy consumption are
affecting the entire country. In schools, hospitals, industries and
ministerial offices the monthly quota of kilowatts has been reduced. To
accommodate the narrow plans, many of these entities must reduce
electric lighting, turn off air conditioning systems and reduce working
hours. Banks do not escape this situation.

In the midst of the International Fair of Havana (FIHAV), and as the
authorities are promoting to foreign investors that the banking system
is prepared to efficiently manage their funds, not even in the
International Financial Bank has been able to avoid the restrictions
imposed by the fall in crude oil imports from Venezuela.

Now, along with delays in processing of paperwork and chronic problems
with the connections between branches, there is the additional problem
of reducing the opening hours of these offices. The situation further
complicated any operation that involves changing, saving or withdrawing
money from the island's banks.

Source: Of Foreign Investment and Half-Closed Banks / 14ymedio –
Translating Cuba -

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