Faced with reform or death, Cuba opens the market

With Law 117/2026, Cuban exiles will also be allowed to invest on the island. This is a historic turning point compared to the end of the last century, when emigrants – especially those heading to the U.S. – were routinely insulted with the term gusanos (worms).

The push is underway to enact the greatest economic reform ever implemented in Cuba this century, one that gives greater room to private investment – both domestic and foreign – and opens up more toward the market.

The first step was the review of the package of 176 reforms presented last week by President Miguel Díaz-Canel. The examination was conducted by the Plenum of the Central Committee of the Cuban Communist Party (PCC), which met on Wednesday, June 17, in an extraordinary session. 

The green light came directly via a message sent by former President Raúl Castro, who stated he had been consulted and approved the measures without reservation. Castro urged the PCC leadership to engage in an open debate where criticism was welcome as long as it was expressed constructively. Even more than the approval of the reforms, Castro urged the party toward their swift application, in harmony with and involving the direct participation of the Cuban population. The message bearing Raúl Castro’s signature was shown to the members of the Central Committee, who received it standing with prolonged applause.

The former president, facing an indictment from the US Department of Justice, is under guard in an undisclosed and heavily protected location to prevent a raid like the one carried out by Delta Force on January 3 to capture Venezuelan President Nicolás Maduro.

Prime Minister Manuel Marrero made it clear that........

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