How Fidel Ruined Cuba’s Economy - Cuba’s GDP is now five percent of what it was before Fidel Castro assumed power.

On Sunday, Raul Castro became Cuba’s new president, succeeding his brother Fidel Castro. Fidel had ruled Cuba since January 1959, when he led a popular revolution. However, once in power he failed to deliver on promises of democracy, and implemented a totalitarian system which also suffocated private enterprise.

Nearly 50 years of Fidel Castro have nearly ruined a once-prosperous economy, experts say. “It is a basket case, with a continuously shrinking basket,” says Jorge Salazar-Carrillo, a professor of economics at Florida International University.”*

*From: http://www.latinbusinesschronicle.com
Traducido: usando Google o Altavista/Babel Fish

Stumble it! | |

Other posts that may interest you

Ernesto "Che" Guevara helped destroy Cuba's economy, including its key sugar industry, experts say.

Fidel Castro resigns as Cuban president after nearly half-century in power

Is Fidel Castro dead? » VivirLatino

VLMIL Candidate #3: Fidel Castro » VivirLatino

Cuban officals say Castro will return

Adiós, Fidel - And hello again. Why Broward-Palm Beach immigrant groups are tired of the endless Castro drama.

Raul Castro Says Communist Party Will Remain Even Without Fidel Castro

Fidel Castro bio

Former Mexican President Fox signs book deal for memoir

Castro's Illness, Cuba's Future Dominate U.S. Hispanic Media