Western Union restores remittance service between the US and Cuba

Havana. Western Union confirmed on Thursday the resumption of its remittance service from the US to Cuba after the system collapsed greater than three months in the past, restoring a monetary lifeline for Cubans, their family and friends on the island.

The corporate mentioned companies to Cuba had been interrupted since January 28, forcing Cubans who depend upon this switch system to search for various, and sometimes dearer, routes to obtain cash.

“We perceive that our service is an important connection between these residing in the US and their households residing in Cuba,” mentioned Rodrigo García, president of Western Union for North and Latin America.

“We’re happy to renew service to this important hall and supply important cash switch companies to these residing on the island,” he mentioned.

In February Western Union defined that companies collapsed on account of technical issues with the processing of transactions in Cuba and that the outage solely affected the Caribbean nation.

The corporate, among the many world’s main suppliers of cash switch companies, resumed remittances to the island in 2023, nearly three years after Donald Trump’s authorities launched a collection of sanctions that triggered the interruption of the service.

Remittances are an important supply of earnings for Cuban households, however the want has change into much more acute in latest instances amid a severe financial disaster stemming from tightening US sanctions, the COVID-19 pandemic and a tourism sector. which has not but given the anticipated ends in earnings.

“We Cubans would profit if remittances arrived within the nation once more (…). If it had been in money, significantly better since it will profit us very, very a lot,” mentioned Olga Rodríguez, 53, a shopper ready in line in entrance of the Banco Metropolitano, within the El Vedado district.

A number of research have proven that just about 70 % of the Cuban inhabitants receives remittances in numerous types, in line with a 2023 report from the United Nations Financial Fee for Latin America and the Caribbean (ECLAC), though no official figures are at present out there from the federal government. Cuban.