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Opinion
Juan Pablo Spinetto, Columnist


COMMUNIST CUBA IS ON THE BRINK OF COLLAPSE

The Caribbean island is going through its harshest economic crisis in three
decades. The world should prepare for an eventual and sorely needed regime
change.

March 19, 2024 at 11:00 AM GMT+1
Updated on
March 19, 2024 at 3:04 PM GMT+1
By Juan Pablo Spinetto
JP Spinetto is a Bloomberg Opinion columnist covering Latin American business,
economic affairs and politics. He was previously Bloomberg News’ managing editor
for economics and government in the region.
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Waiting for a better future. 

Photographer: Yamil Lage/AFP/Getty Images

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Almost unnoticed amid the drama and crisis that hit Latin America every week, in
the last days of February the Cuban government asked the United Nations for aid
to address a growing food shortage.

The unprecedented cry for help from a communist regime that has always prided
itself on its social welfare model captures Cuba’s dire economic straits. Hurt
by tightened US restrictions, decaying domestic production, a weak post-Covid
tourism industry and indifference from its allies, the island is living through
its worst economic days since the collapse of the Soviet Union more than three
decades ago. A string of blackouts brought people into the streets last weekend,
shouting for “food and power” — a rare display of social unrest since the
turmoil that shook the island in July 2021, which the regime contained with
crushing force.

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