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RIO DE JANEIRO, BRAZIL - (Reuters) Cuba must devalue and deregulate further after taking initial steps this year to restructure its ailing state-run economy and presumably pay off long overdue debt, according to western creditors, business partners and analysts.

Cuba devalued the peso this month from its decades-old official rate of par with the greenback to 24 pesos to the dollar. A dollar substitute called the convertible peso, fixed at the latter rate, was scrapped, as were . . .

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