Does the MLC Is its days numbered? At least 85 stores in Cuba only accept dollars.

With the emergence of stores in freely convertible currency, MLCThe then Minister of Economy stated that they would be temporary and unwelcome. But no one imagined they would disappear precisely to make way for stores that only accept dollars.

The dollarization of retail trade in Cuba is advancing rapidly. More than 85 stores across the country now operate exclusively in US dollars, exceeding the 7% limit previously set by the government.

These establishments do not accept payments in Freely Convertible Currency (MLC) nor in Cuban pesos (CUP). They only accept cash dollars or authorized cards such as the Classic, AIS, and Tropical cards from Banco de Crédito y Comercio (Bandec).

These "dollarized stores" are concentrated mainly in Havana, but have also spread to provinces across the country, from Pinar del Río to Guantánamo. Many of them have been converted to this modality without prior notice, which has generated discomfort and discontent among citizens. They went from being stores in MLC  return to being something similar to the old shopping malls.

Official contradictions

Last December, Prime Minister Manuel Marrero Cruz announced before the National Assembly the approval of a document regulating the "partial dollarization of the economy." In other words, allowing the use of foreign currency in sectors such as retail, airports, clinics, and tourism.

However, the rapid expansion of stores operating exclusively in dollars seems to contradict the idea of ​​"partial" dollarization.

New openings and criticisms

In February, officials from the Ministry of Domestic Trade announced that the joint venture Alma Caribe SA would open 50 stores nationwide, 48 of which would be newly built.

The commercial company Mercalhabana SA was also presented, aiming to operate in wholesale and retail trade with foreign currency and participate in partnerships with foreign capital.

Economist Pedro Monreal has criticized the foreign currency trading model, pointing out that it fails to guarantee stable inputs or production and prioritizes the expansion of state commercial infrastructure, while excluding the private sector.

Economic context

During a recent Council of Ministers meeting, President Miguel Díaz-Canel indicated that obtaining foreign currency should be an economic priority, suggesting seeking foreign currency income "through means other than traditional ones" and mentioning the need to attract foreign investment and advance the banking sector.

These statements were made against a backdrop of declining tourism, export failures, low agricultural production, and a liquidity crisis, factors that directly affect the availability of basic products in the country.