Cuba's New Dollar Store: A Sign of Economic Shifts

Cuba has opened its first grocery store in nearly two decades to accept U.S. dollars. This move highlights the island's gradual shift towards dollarization, aiming to tackle economic challenges exacerbated by U.S. trade embargoes. The shift raises concerns about growing inequality among Cubans.

In a notable economic move, Cuba has inaugurated its first store in nearly two decades to accept U.S. dollars, amidst a broader trend of dollarization in the Communist country.

Opened a few weeks ago, the store serves as a beacon of opportunity for Cubans fortunate enough to hold U.S. currency, providing them access to goods and services previously unattainable. However, not all citizens have the means to shop there, creating a disparity highlighted by shopper Yuliani González.

This 'partial dollarization' is a strategy Cuban officials have labeled as tough but necessary, citing economic struggles partly induced by longstanding U.S. trade embargoes. With growing availability in dollar-based goods, concerns of inequality surge as the local peso loses ground to foreign currency influx.

(With inputs from agencies.)