Financial Services Advisor

Fernando X. Donayre, chief investment officer and founder of INCA Investments in Miami: “This latest, and last, measure of the Trump administration is a continuation of a policy intended to force regime change via the strangulation of the Cuban economy. It is the perpetuation of a hardline policy, that apart from the opening with Cuba under the Obama administration, has not succeeded for 50-plus years. The further shutdown of remittances will hurt the Cuban military, as a partner of the Cuban government and the most important economic player on the island, in its ability to control the country’s hard currency reserves. However, it will once again be the Cuban people that will be most negatively affected by further diminishing their ability to obtain food and other basic goods. This measure will not move the Cuban government any closer to changing its political model, which is underscored by its response to the measure. Instead of resolving this issue by changing the commercial relationship with Western Union from a…”