New Controls On Cuban Economy
(K2. Prttt Aifociation-CopyrigM)
KEY WEST (Florida), August 9 the Cuban Prim* Minister (Dr. Castro) announced last night harsh MW economie control* an *p*ruling, Umittag bank depootta and rertriettag Th* measure cam* three days after a sudden changeover of currency, to which Cuban citizen* were forced to deposit *H *>»lr money exceeding 200 dollars in special accounts in the Cuban National Bank, toe Associated Press reported. Last night. Dr. Castro Mid
individual citizens would be able to drew only up to 1000 doliers (£380) in cash from the special account* and thereafter would be allowed to withdrew cash at the rate of 100 dollars (£3B) a month. They would be permitted total deposits of 10,000 dollars (£3800) and any money over 8000 dollars (about £1750) would automatically go intq raving* aoccuata. Businesses, be said, wtU be allowed an Initial total withdrawal of 5000 dollars—any sum above that total to be deposited under the new law In savings accounts.
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Bibliographic details
Press, Volume C, Issue 29588, 10 August 1961, Page 13
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162New Controls On Cuban Economy Press, Volume C, Issue 29588, 10 August 1961, Page 13
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