Thursday, 15 March 2012

Cuba to chart economic future at party congress

HAVANA (AP) — Communist Party leaders say Cuba should balance its budget, repay billions of dollars in debt and stop propping up failing state-run companies, according to a document being circulated ahead of a major summit designed to save this cash-strapped island from financial ruin.

The 32-page paper, a copy of which was obtained by The Associated Press, was handed out to local party activists Monday during a speech by President Raul Castro, in which he announced that Cuba would hold a make-or-break Communist Party Congress next April.

The document also recommends ending an unusual dual-currency system and seeking new ways for individuals to buy and sell private …

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