Central Bank of Cuba

Central Bank of Cuba
Banco Central de Cuba
Logo of the Central Bank of Cuba
Established28 May 1997
Ownership100% state ownership[1]
PresidentJuana Lilia Delgado Portal
Central bank ofCuba
CurrencyCuban peso
CUP (ISO 4217)
Reserves$8 billion
Preceded byNational Bank of Cuba
Websitewww.bc.gob.cu

The Central Bank of Cuba (Spanish: Banco Central de Cuba, BCC) is the central bank of Cuba. It was created in 1997 to take over many of the functions of the National Bank of Cuba (Spanish: Banco Nacional de Cuba), which was established on 23 December 1948[2] and began operations on 27 April 1950.[3]

The current president of the bank is Joaquín Alonso Vázquez.[4]

Organization

The bank is headed by a single president with five vice-presidents:[5]

  • First Vice President
  • Administrative Vice President
  • Vice President, Analysis and Strategic Objectives of the Cuban Bank System
  • Vice President, Macroeconomics
  • Vice-president, Operations

The president of the Central Bank is a member of the Council of Ministers of Cuba.

Presidents

Presidents of the National Bank of Cuba and of the Central Bank of Cuba.

No. Image Name Term
1 Felipe Pazos 1950 – April 1952[6]
2 Joaquín Martínez Sáenz April 1952 – 1958[7]
(1) Felipe Pazos January 1959 – November 1959[6]
3 Che Guevara 26 November 1959 – 23 February 1961[8]
4 Raúl Cepero Bonilla 1961–1962[9]
5 Orlando Pérez Rodríguez 1962–1973[10]
6 Raúl León Torrás 1973–1985[11]
7 Héctor Rodríguez Llompart 1985–1995[12]
8 Francisco Soberón Valdés 1995–2009[13]
9 Ernesto Medina Villaveiran 2009–2017[14]
10 Irma Margarita Martínez Castrillón 2017–2020
11 Marta Sabina Wilson González 2020–2023[15]
12 Joaquín Alonso Vázquez 15 February 2023[16] – 2 February 2024
13 Juana Lilia Delgado Portal[17][18] 2 February 2024[19] – present

Notable historical actions

As published in the official gazette on 18 December, 2025, taking note of the wide disparity in the official conversion rate of the peso and the market rate, enacted a three-tier policy to bridge the divide. This included: 1. Maintenance of the fixed rate of 24 pesos to the US dollar; a fixed rate of 120 pesos to the dollar and; a new a daily floating exchange rate, to be published by the bank to reflect “the objective existence of differences between the official exchange rates and the real value that reflects the scarcity of foreign currency."[20]

See also

References

  1. ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
  2. ^ "Aniversario 62 de la nacionalización de la banca en Cuba". Contraloría General de la República (in Spanish). Archived from the original on 2022-10-14. Retrieved 2022-10-13.
  3. ^ "About the BCC". May 31, 2016. Archived from the original on May 31, 2016.
  4. ^ "Designado nuevo Ministro Presidente del Banco Central de Cuba". Portal Banco Central de Cuba.
  5. ^ "About the BCC". Archived from the original on 2016-05-31. Retrieved 2016-06-30.
  6. ^ a b "Felipe Pazos Roque".
  7. ^ "Annual Report of the Executive Directors for the Fiscal Year". International Monetary Fund. April 2, 1950 – via Google Books.
  8. ^ "Ernesto 'Che' Guevara".
  9. ^ "Raúl Cepero Bonilla".
  10. ^ "Orlando Pérez Rodríguez".
  11. ^ "Raúl León Torrás".
  12. ^ "Héctor Rodríguez Llompart".
  13. ^ "Francisco Soberón Valdés".
  14. ^ "Evolución de la estructura jurídica".
  15. ^ "Cuban Parliament appoints members of the Council of Ministers". Agencia Cubana de Noticias. 23 December 2019.
  16. ^ "Cuba appoints new Minister President of the Central Bank". 16 February 2023.
  17. ^ https://www.dac27.ch/CubaHeuteEng/Cabinet%20reshuffle%20Ministry%20of%20Economy%20and%20Central%20Bank%20under%20new%20leadership.pdf
  18. ^ https://www.presidencia.gob.cu/es/gobierno/instituciones/banco-central-de-cuba/
  19. ^ https://www.latinnews.com/component/k2/item/100246-cuba-economy-minister-goes.html
  20. ^ telesurenglish.net/cuban-central-bank-new-floating-exchange-rate/

23°08′21″N 82°21′12″W / 23.1393°N 82.3533°W / 23.1393; -82.3533


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