Raul Castro, 94, appeared at July 26, 2025 rally in Santiago, Cuba with Miguel Diaz Canel. Office of the Presidency of Cuba.
Reinaldo Arenas in his posthumous autobiography Before Night Falls (1992) wrote: “The difference between the communist and capitalist systems is that, although both give you a kick in the ass, in the communist system you have to applaud, while in the capitalist system you can scream. And I came here to scream.” This quote came to mind reading two stories on Cuba published today. Journalist Nora Gamez Torres in her article published in the Miami Herald today, “Where is Cuba’s money? Secret records show the military has massive cash hoard” reveals that the Cuban military through its “umbrella group known as GAESA, short for Grupo de Administración Empresarial S.A” has bank accounts containing $18 billion USD, which is “larger than larger than the international reserves of nations like Costa Rica, Uruguay and Panama.”
Nora also points out that 63 priority medications “have been in short supply in Cuban pharmacies.” Maintaining the annual supply of these critical medications is $43 million USD, and that to maintain Cuba’s electrical grid, which has been collapsing due to a lack of upkeep, would cost $250 million annually to operate and maintain. Interest on the $18 billion would cover these costs that have not been met.
She also found that “financial documents reveal that the military was incurring substantial losses, contributing to the rapid decline of the island’s economy. Last year, $5 billion disappeared from GAESA’s accounts, likely due to declining tourism revenue, according to records.”
The Miami Herald journalist also published a list of Cuban companies secretly run by the Cuban military.
On May 1, 2025 Nora Gamez Torres spoke virtually to the Hudson Institute on a panel discussion titled, Cuba’s Kleptocracy: How It Works and Why It Matters for US Policy, in which she described how GAESA’s funds are not being used to benefit the Cuban people. She also hinted during this event at having additional information, which was released today.
Cuba’s leader Miguel Díaz-Canel, center, is surrounded by Ministry of Interior and Ministry of Revolutionary Armed Forces officials. In recent years, the Cuban military have expanded its economic and political control over the country. A military conglomerate known as GAESA has massive dollar reserves, a Herald investigation reveals. Office of the Presidency of Cuba.
[ Full article ]
Five takeaways from a Herald investigation of Cuban military’s secret dollar cache
The Miami Herald has obtained a trove of secret financial data from Cuba’s largest conglomerate. Its name is GAESA, short for Grupo de Administración Empresarial, S.A., and the Cuban armed forces run it.
GAESA controls a big chunk of tourism, most of the island’s gas stations and supermarkets, the money transfer business, currency exchange agencies, the operations at the Mariel Special Development Zone, and many other profitable businesses. It is also under U.S. sanctions.
The Herald obtained over 20 financial statements from GAESA’s internal accounting system for March and August last year showing that one point it was holding as much as $18 billions in hard currency in its accounts. Some of the statements show data for the same months in 2023. The Herald also obtained a document with financial information from CIMEX’s, the largest holding company operating under the GAESA umbrella.
[ Full article ]
https://www.miamiherald.com/news/nation-world/world/americas/cuba/article311494641.html
These Cuban companies are actually run by the military, secret documents show
Gasoline station in Cuba. Photo: Abel Padrón Padilla/ Cubadebate
A Miami Herald investigation that revealed that a Cuban military conglomerate is holding billions in secret dollar reserves amid the ongoing collapse of the economy shows the island’s armed services have created an extensive network of companies that tap into almost every string of foreign revenue entering the island.
Secret financial documents obtained by the Herald show that GAESA, the military’s umbrella company that has a multitude of subsidiaries, had $18 billion in current assets as of March 2024, most of it deposited in unknown bank accounts.
The Herald obtained more than 20 financial statements from GAESA’s internal accounting system for March and August 2024. The Herald also obtained a PowerPoint presentation with financial information from Cimex’s, the largest holding company under the umbrella.
[ Full article ]
https://www.miamiherald.com/news/nation-world/world/americas/cuba/article311504108.html
Cuba activists say detained on anniversary of 1994 anti-Castro protest
Activists, journalists and relatives of jailed dissidents say they were briefly detained or prevented from leaving their homes by state security agents Tuesday on the anniversary of the “Maleconazo,” the largest protest Fidel Castro faced during his rule.
On August 5, 1994, hundreds of people took to the streets of Havana’s Malecon waterfront to protest, an event that triggered the rafter crisis during which many Cubans fled by sea to the United States.
The government attributed the protests to incitement by Radio Marti, a Washington-funded station that broadcasts news into Cuba.
Nearly five years after Castro’s death, historic protests shook the island on July 11, 2021, when thousands took to the streets, resulting in one death, dozens injured and hundreds arrested. Many protesters remain behind bars.
The government claims those marches were also orchestrated by Washington.
President Miguel Diaz-Canel said the “Maleconazo” anniversary was a reminder that “there will always be dark forces lurking against a genuine Revolution in difficult moments,” posting a photograph on X of Castro confronting protesters in 1994.
Tuesday saw “surveillance, house arrests, arbitrary detention, and selective internet shutdowns,” according to Cubalex, a Miami-based NGO.
Manuel Cuesta Morua, a dissident who promotes democratic transition in Cuba, told AFP via WhatsApp that since early morning he had been “besieged by the police” in a “type of house arrest, without a court order.”
The government “activated its repressive apparatus” following the “police pattern” applied on sensitive dates, said Yoani Sanchez, director of independent newspaper 14ymedio.
She said her husband, Reinaldo Escobar, also a journalist for the outlet, “was detained for a couple of hours in Havana.”
Independent journalist Camila Acosta told AFP that a state security officer had been stationed at the entrance of her house early in the morning.
Among others in similar situations reported by Cubalex were representatives of the Ladies in White rights group and the father of a young man imprisoned for participating in the July 2021 protests.
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https://www.yahoo.com/news/articles/cuba-activists-detained-anniversary-1994-070742783.html