The story behind Cuba's economic dysfunction

The Indicator from Planet Money

NPR

Business

4.7 • 9.5K Ratings

🗓️ 7 November 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week, a powerful hurricane hit Cuba, causing nationwide electricity outages — right after a string of power failures that have plagued the country in recent months. These power outages are a low point for a country that has struggled economically for years and is experiencing mass emigration.

Today on the show, we explain why Cuba is struggling to keep the lights on and investigate the root causes of the Caribbean nation's dramatic fall.

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Transcript

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0:00.0	NPR.
0:02.2	On Wednesday, a powerful hurricane hit Cuba.
0:15.3	The Caribbean nation was pummeled with wind and rain.
0:19.0	Electricity was cut off nationwide, bringing up memories of a string of recent power failures
0:24.0	that have been plaguing the country even without hurricanes.
0:28.0	Cuba's dramatic power outages mark a low point in the country's sharp economic decline.
0:33.7	Food shortages are rife, and inflation is running at 30%.
0:37.3	So, what's going wrong?
0:39.8	This is the indicator from Planet Money.
0:41.8	I'm Adrienne Ma.
0:42.8	And I'm Darym Woods.
0:44.0	Today on the show, why Cuba is struggling to keep the lights on.
0:47.9	The answer gives us insight into this age-old question of whether Cuba's woes are driven by its communist leadership or US sanctions.
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