Cuban President Fidel Castro has criticised Forbes magazine for the 'infamy' of listing him among the world's richest people, with a net worth of $550 million (290 million pounds). REUTERS/Claudia Daut
Posted on 03/25/2005 1:22:06 AM PST by Cincinatus' Wife
Advancing a campaign of economic strengthening on the island, Cuban leader Fidel Castro announced Thursday that the so-called ''convertible peso'' -- which had been equal to the U.S. dollar since it was created a decade ago -- would increase in value by 8 percent effective next month.
Castro also said a fixed exchange rate for both sales and purchases of the convertible peso would be implemented on April 9.
The revaluation follows last week's 7 percent increase in the value of the Cuban peso, from 27 to 25 to the U.S. dollar. The U.S. dollar no longer circulates as legal tender on the island.
''We are defending our resources, our economy,'' Castro told an audience of Communist Party leaders, government officials, military and members of various other state-sponsored organizations. ``We know what we are doing and we have faith in what we are doing. We've entered a new era.''
''If they want mercenaries, let them have to pay more,'' Castro said, referring to dissidents who receive dollars from American supporters.
The four-hour address was Castro's third in as many weeks that focused on a rebounding economy, ending corruption and a crippling energy crisis that he has repeatedly promised would be remedied by early next year.
''We will bring it to an end, let there be no doubt about that,'' Castro, 78, said in a speech broadcast on Cuban radio and television. ``The idea is to improve living conditions. We are preparing so that there will be no shortage of anything.''
Thursday's address came on the same day two American Republican legislators visiting Havana -- Rep. Jeff Flake of Arizona and Rep. Wally Herger of California -- promised to back renewed efforts in Washington to push through legislation that will ease sanctions on the communist-ruled country.
Yes, you can now buy 8% more nothing with your peso.
tick...tick...tick...
Havana recently topped Bangkok as "child-sex capital of the world." Consider the human tragedy, the desperation of poor people driven to such things in such numbers, and after 43 years of "liberation" and "national dignity."
A Cuban girl poses during a photo session for her 15th birthday 'coming out' celebration in Havana, March 17, 2005. The custom dates back to the Spanish colonial era and has survived in Communist Cuba, where debutantes dress up in muslin dresses that showcase their bodies and pose for cameras with uninhibited sensuality. Parents save up for the event, which can cost $300-500, a small fortune in a country where monthly salaries average $15.PICTURE TAKEN MARCH 17 BC-CUBA-15 YEARS REUTERS/Claudia Daut
My God, can you imagine being forced to listen to 4 hours of this sort of drivel from this old fool? Should be against the Geneva convention.
Everyone has a TV so big brother can spew his communist bs.
A government hand-out.
"the most honest, courageous politician I have ever met." -- Jesse Jackson during a 1984 visit to Havana
One, a failure as President, the other, a failure as a human being.
One notes that the party affiliation of those two congressmen was "inadvertently" left out.
Hey Fidel!...get some hair implants....
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