• Short Summary

    PRIME MINISTER DR. FIDEL CASTRO OF CUBA ANNOUNCED AUGUST 9 HARSH NEW CONTROLS OVER THE?

  • Description

    PRIME MINISTER DR. FIDEL CASTRO OF CUBA ANNOUNCED AUGUST 9 HARSH NEW CONTROLS OVER THE SPENDING HABITS OF MILLIONS OF CUBANS, LIMITING THE TOTAL BANK DEPOSITS THEY ARE ALLOWED AND RESTRICTING THE AMOUNT OF CASH THEY CAN WITHDRAW.

    THE RESTRICTIONS FOLLOW HARD ON LAST WEEKEND'S CHANGEOVER OF CURRENCY, IN WHICH CUBANS WERE FORCED TO DEPOSIT ALL THEIR MONEY EXCEEDING 200 DOLLARS (ABOUT GBP70) IN SPECIAL ACCOUNTS WITH THE CUBAN NATIONAL BANK.

    INDIVIDUAL CITIZENS WILL BE LIMITED TO AN INITIAL WITHDRAWAL OF 1,000 DOLLARS (GBP350) IN CASH FROM THEIR SPECIAL ACCOUNTS, AND THEREAFTER WILL BE ABLE TO WITHDRAW CASH AT THE RATE OF ONLY 100 DOLLARS (GBP35) A MONTH. THEY WILL PERMITTED TOTAL DEPOSITS OF 10,000 DOLLARS (GBP3,500); ANY MONEY OVER 5,000 DOLLARS (ABOUT GBP1750) WILL AUTOMATICALLY GO INTO SAVINGS ACCOUNTS.

    DR. CASTRO SAID THE MEASURES WERE DESIGNED TO PROTEST THE CUBAN ECONOMY AND THE ISLAND'S CASH RESOURCES.

  • Tags

  • Data

    Film ID:
    VLVAA1MDUAG8V3S95UBSJ9NOH3I0D
    Media URN:
    VLVAA1MDUAG8V3S95UBSJ9NOH3I0D
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    09/08/1961
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:00:48:00
    Time in/Out:
    /
    Canister:
    N/A

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