Cuba is evidence that there is an alternative to the IMF

JSC: Jamaicans in Solidarity with Cuba

A JSC reader writes in response to the article: World Bank: Cuba has the best education system in Latin America and the Caribbean

By Michael Smith

CUBA-REVOLUTION 40TH ANIVERSARYThere should be no surprise as to why Cuba excels in education, health care and other social sectors compared to its Latin American and Caribbean neighbors.

The fundamental reason for Cuba’s successes in the social spheres is that unlike its neighbors, Cuba has had a profound revolution that has changed all aspects of its life for the better.

fidel y nikita ktrushchevThis they have achieved despite facing huge challenges and difficulties with foreign exchange reserves. The latter challenge is particularly important in the absence of the former USSR and other socialist countries that typically bought Cuba’s exports above ‘world prices’ and sold the Caribbean nation their imports such as machinery, tools, medicines and spare parts below world market prices.

Effectively, the socialist countries created a different basis for determining prices…

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