Ludwig von Mises Institute

Cuba

From Mises Wiki, the global repository of classical-liberal thought
Jump to: navigation, search
Country summary

Capital

Havana

Borders

US Naval Base at Guantanamo Bay 29 km

Government type

Communist state

Population

11,451,652 (July 2010 est.)[1]

Population growth

0.233% (2010 est.)[1]

Life expectancy

77.45 years[1]

Unemployment

1.7% (2009 est.)[1]

Index of Economic Freedom

177[2]

Corruption Perceptions Index

61[3]


The native Amerindian population of Cuba began to decline after the European discovery of the island by Christopher COLUMBUS in 1492 and following its development as a Spanish colony during the next several centuries. Large numbers of African slaves were imported to work the coffee and sugar plantations, and Havana became the launching point for the annual treasure fleets bound for Spain from Mexico and Peru. Spanish rule eventually provoked an independence movement and occasional rebellions that were harshly suppressed. US intervention during the Spanish-American War in 1898 assisted the Cubans in overthrowing Spanish rule. The Treaty of Paris established Cuban independence from the US in 1902 after which the island experienced a string of governments mostly dominated by the military and corrupt politicians. Fidel CASTRO led a rebel army to victory in 1959; his iron rule held the subsequent regime together for nearly five decades. He stepped down as president in February 2008 in favor of his younger brother Raul CASTRO. Cuba's Communist revolution, with Soviet support, was exported throughout Latin America and Africa during the 1960s, 1970s, and 1980s. The country faced a severe economic downturn in 1990 following the withdrawal of former Soviet subsidies worth $4 billion to $6 billion annually. Cuba portrays its difficulties as the result of the US embargo in place since 1961. Illicit migration to the US - using homemade rafts, alien smugglers, air flights, or via the southwest border - is a continuing problem. The US Coast Guard intercepted 2,656 individuals attempting to cross the Straits of Florida in fiscal year 2007.[1]

Economical characteristics[edit]

  • Currency: Cuban peso (ISO code: CUP)
  • Central bank discount rate: NA%[1]
  • Commercial banks lending rate: NA%[1]
  • Stock of money (M1): $NA[1]
  • Quasi money (with M1 makes M2): $NA[1]


Statistics[edit]

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (USD)[4]
Govt. debt (% of GDP)[5]
Govt. revenue (% of GDP)[6]
Govt. expenses (% of GDP)[7]
Debt to revenue (years)

References[edit]

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Factbook. "Cuba", from The World Factbook. Referenced 2010-09-30.
  2. Heritage Foundation. "Cuba", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-09-30.
  3. Transparency International. "Cuba", Corruption Perceptions Index 2009. A lower ranking is better; but please note that the numbers cannot be compared between countries or years due to different methodology. Referenced 2010-09-30.
  4. World Bank. "Cuba: GDP", from World Bank Data. Referenced 2010-09-30.
  5. World Bank. "Cuba: government debt", from World Bank Data. Referenced 2010-09-30.
  6. World Bank. "Cuba: government revenue", from World Bank Data. Referenced 2010-09-30.
  7. World Bank. "Cuba: government expenses", from World Bank Data. Referenced 2010-09-30.

Links[edit]

Personal tools

Namespaces

Variants

Actions

Navigation
Tools
Print/export