Cubans who decide to convert the CUCs they have deposited in banks into euros or dollars will not be able to extract them, nor will we even be able to use them to buy in your agendas in Freely Convertible Currency, according to statements from authorities of this moons Round table.
Marino Murillo Jorge, head of the economic reforms of the Communist Party of Cuba (PCC), said that in the case of accounts in CUC to collect and pay private workers and tomorrow forms of non-state management, its conversion to CUP should of being in automatic the 1 of January, because of the opposite will not have possibilities to carry out operations.
“Stimulus” cards in CUC to workers are also converted, multiplying the balance by 24, added, according to the official site Cubadebate.
As for the accounts in CUC which holders decide to convert into dollars or euros, Murillo Jorge said they will be frozen.
“It will not be possible to withdraw dollars from this account, the economy does not have this liquidity (…) This is a decision of the people,” he said.
He explained that it ceased to be tales from which money is extracted and deposited, with minimal interest, “because there is also money that cannot be backed up.”
According to Murillo Jorge, the amounts of those accounts will be backed “when the conditions of the economy improve,” something for which the government has no date.
“I don’t think it’s sensible to make time commitments,” he said.
Those who convert their savings into CUC to dollars or euros will receive a “certificate of deposit” with limitations to operate.
According to the President of the Central Bank of Cuba (BCC), Marta Wilson González, this certificate, which will be issued in euros or dollars, will be with the balance it will have on January 1.
On the bank amounts of health professionals sent abroad, Wilson González said he would maintain a 30% profit, but they suffer the same restrictions that other incumbents will face.
The “collaborators” will be able to request, in the six-month plan, to convert to Moneda Libremente Convertible (MLC) the balances they had in these accounts, taking advantage of the certificate of deposit.
Those who do not request their balances automatically converted to CUP.
Like Murillo, Wilson González said that the certificate of deposit in dollars or euros will not have support in MLC, hence the people who decide to put their funds in this type of product will not be able to make transactions in divisions of any kind, we will also not be able to make transfers to other banking products, such as accounts operating on MLC for purchases in your trends in this currency.
In the event that a client who withdraws these funds before there is availability and liquidity backing, will have to settle for extracting it in Cuban pesos.