Key facts
- Mastercard and Visa are suspending transactions in Cuba.
- Hotel operators are withdrawing from the island.
- A major Canadian mining company is re-evaluating its presence in Cuba.
The Cuban economy is experiencing a significant collapse, leading to foreign businesses reconsidering their operations on the island. Payment giants Mastercard and Visa have suspended transactions, impacting commerce. Additionally, hotel operators are reportedly pulling out of Cuba, and a prominent Canadian mining company is re-evaluating its investments and presence there. These withdrawals signal a deepening economic crisis and a deteriorating business environment in Cuba.