New Money

by Kyrstin Thorson 5.8.13
In 2009, the Obama Administration eased restrictions on sending remittances to Cuba. Obama removed the limit on the amount that could be sent by people in the U.S. to family in Cuba (within 3 degrees of family relationship, so long as the recipient is not a senior Cuban government official or senior member of the Communist party). Obama further eased restrictions on remittances in 2011 when he enacted policy which allows any U.S. person to send up to $500 USD per quarter to any non-senior government or Communist party official. DSCN0873Obama further allowed this money to be used to fund private businesses and religious institutions. While these policy changes may seem relatively benign in the larger context of 50 years of no direct diplomatic relations, economic embargos, and military skirmishes, this policy change is actually creating very positive change for both countries and may even help foster improved relations in the future.

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