Barron’s quotes Adrienne Arsht Latin America Center Deputy Director Jason Marczak on the steps needed for a burgeoning Cuban economy to attract foreign investors:
But the government is showing signs it will embrace change to promote growth. Last week it said gross domestic product grew 4.7 percent in the first half of 2015, year on year, ahead of estimates, after rising 1.3 percent in 2014. But government data are unreliable. What’s needed to attract investors, says Jason Marczak, deputy director of the Adrienne Arsht Latin America Center at the Atlantic Council, are data transparency and unification of a two-currency system with a peso for Cubans and a convertible peso, or CUC, for foreigners. The latter trades at a 13 percent discount to the dollar, including fees.