The North American authorities issued a new law for fiscal year 2024 that prohibits the use of United States federal funds in Micro, Small and Medium Enterprises (MSMEs) linked to the Castro regime.
The law was announced by Cuban-American congressman Mario Díaz-Balart, who noted that the measure was established within the State Appropriations, Foreign Operations and Related Programs Act.
During a press conference in which he announced this new law and other measures taken against the Cuban government, the official assured that the steps taken had generated unrest among those supporters of the Castro regime in the White House.
#Last minute | @MarioDB announces visa restrictions for governments and organizations that contribute to the trafficking of Cuban doctors. It also increases the budget of Radio and TV Martí and eliminates any possibility of using federal funds for small businesses in Cuba,… pic.twitter.com/kGXRdbmfn0
— Mario J. Pentón (@MarioJPenton) April 3, 2024
MSMEs in Cuba
It should be remembered that the island’s government authorized the creation of these companies after the popular protests of July 2021, but that many have been linked to members of Cuba’s power leadership and their families.
Initially, Joe Biden’s administration was in favor of the development of the private sector in Cuba, but a Cuban-American congressman questioned this position because these companies are used by the dictatorship to evade the economic embargo that the United States maintains on the leaders.
Since they were announced in 2021, the creation of 10,000 MSMEs on the Island has been seen, this without taking into account the number of companies formed since December 2023, when the count was shared.
Statistics indicate that between 25% and 50% of these MSMEs close within the first two years of their existence, due to reasons such as a shortage of capital or financing, which restricts their ability to expand.
Other measures taken
During the press conference, Díaz-Balart not only announced this decision, but also that the US approved increasing the budget of the Transmission Office to Cuba, which includes the media Radio Television Martíwhich will receive an additional 25 million dollars.
The US also decided that it would establish visa restrictions on officials of any organization or government that participates in the trafficking of Cuban doctorsan activity that generates thousands of dollars for the regime and has been considered a form of modern slavery.
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