Cuba Calculates US Blockade Damages Since its Inception in 1962

Cuba Calculates US Blockade Damages Since its Inception in 1962
Fecha de publicación: 
15 October 2017
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The damages of the economic, financial and commercial blockade of the United States to Cuba amounted to $130.179 billion USD at current prices since its imposition in 1962, stated a report on the subject today.

Taking into account the depreciation of the dollar against the value of gold in the international market, the losses amount to $822.280 billion USD, according to the resolution that Cuba will present next November 1 before the General Assembly of the United Nations.

The document entitled Need To End The Economic, Commercial And Financial Blockade Imposed By The United States Of America against Cuba states that from April 2016 to June 2017 the losses were of $ 4,305 billion.

Cuban authorities denounce in the document that the previous figure represents twice of that required to guarantee a stable economic development.

In this regard, they cite estimates of the Ministry of Economy and Planning that stated it is required between 2 and 2.5 billion USD of annual foreign direct investment to achieve economic development.

Cuba denounces in its report that this policy 'remains a massive, flagrant and systematic violation of the rights of its citizens and an obstacle to international cooperation.'

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