by Global Risk Insights
Financial Sense
On March 20th, President Barack Obama achieved yet another diplomatic milestone by becoming the first US leader to visit Cuba in 88 years. Obama’s visit has so far been the pinnacle of the US-Cuba rapprochement, which has produced a gradual easing of economic sanctions, renewed political ties, and a sense in Cuba and the United States that a full normalization of economic and political relations might follow.
The surprising improvement in US-Cuban relations has raised hopes among corporate America and ordinary Cubans that renewed economic ties and an eventual scrapping of the US embargo will bring about outstanding economic opportunities in the chronically underdeveloped Cuban economy.