Permanent historical factsheet

Economy of Cuba

Cuba · Government / Communist Party Government. Chronological records rendered directly from the World History Database.

25Records
1959–2010Date range
2Named people
2Places

Chronological records

1959

Fidel Alejandro CastroFebruary 1959

Government / Communist Party Government

US refineries in Cuba refuse to process Cuban oil, they are expropriated, & the US breaks off diplomatic relations with the Castro Government. Cuba signs an agreement to buy oil from the USSR

Fidel Alejandro Castro1959

Government / Communist Party Government

A variety of pacts were signed between Castro & Soviet Premier Nikita Khrushchev, allowing Cuba to receive large amounts of economic & military aid

Fidel Alejandro Castro1959

Government / Communist Party Government

Eisenhower reduces Cuba's sugar import quota by 7,000,000 tons, & in response, Cuba nationalizes $850 million worth of US property & businesses.

Fidel Alejandro Castro1959

Government / Communist Party Government

The nationalization of private property and businesses to the tune of $25 billion and, particularly, US owned companies (to an excess of 1960 value of US $1. 0 billions arouses immediate hostility within the Eisenhower administration.

Fidel Alejandro Castro1959

Government / Communist Party Government

US refineries in Cuba refuse to process Cuban oil, they are expropriated, & the US breaks off diplomatic relations with the Castro Government. Cuba signs an agreement to buy oil from the USSR.

Fidel Alejandro Castro1959

Miami · Government / Communist Party Government

Over one million Cubans migrate to the US, forming a vocal anti-Castro community in Miami, Florida

1961

Fidel Alejandro Castro3 January 1961

Government / Communist Party Government

Eisenhower breaks off diplomatic relations with Cuba

1962

Fidel Alejandro Castro3 February 1962

Government / Communist Party Government

In response to the Cuban alignment with the Soviet Union during the Cold War, President John F. Kennedy extended measures by Executive Order, widening the scope of the trade restrictions

Fidel Alejandro Castro7 February 1962

Government / Communist Party Government

The US imposes an embargo against Cuba

1991

Fidel Alejandro Castro1991

Government / Communist Party Government

After the collapse of the Soviet Union Cuba is left bankrupt & isolated by the disintegration of the Soviet bloc

1999

Fidel Alejandro Castro4 January 1999

Government / Communist Party Government

A new policy by the USA would let millions more dollars flow to Cubans and allow more direct flights, mail service, and trade

2008

Raul Modesto Castro2 April 2008

Government / Communist Party Government

Cubans snapped up DVD players, motorbikes and pressure cookers for the first time as Raul Castros new Government loosens controls on consumer goods and invites private farmers to plant tobacco, coffee and other crops on unused state land

Raul Modesto Castro11 April 2008

Government / Communist Party Government

New regulations allow thousands of Cubans to get title to state-owned homes, a step that might lay the groundwork for broader housing reform

Raul Modesto Castro14 April 2008

Government / Communist Party Government

Lines stretch for blocks outside phone centres as the Government allows ordinary Cubans to sign up for cellular phone service for the first time

Raul Modesto Castro17 April 2008

Government / Communist Party Government

A Government spokesman says that South Africa has waived Cuban debt totaling more than 100 million dollars

Raul Modesto Castro1 May 2008

Government / Communist Party Government

Cuba announces a major shake-up of its troubled farm sector on May Day, shifting control of the islands farms from officials at the Agriculture Ministry to more than 150 local councils

Raul Modesto Castro2 May 2008

Government / Communist Party Government

Computers go on sale to the general public

Raul Modesto Castro19 June 2008

Government / Communist Party Government

The EU agrees to lift its 2003 diplomatic sanctions against Cuba, but imposes tough conditions on the communist island to maintain sanction-free relations

Raul Modesto Castro11 July 2008

Government / Communist Party Government

President Raul Castro warns Cubans to prepare for a "realistic" brand of communism that is economically viable and does away with excessive state subsidies designed to promote equality on the island

Raul Modesto Castro18 July 2008

Government / Communist Party Government

Communist officials decree that private farmers and cooperatives can use up to 100 acres (40 hectares) of idle Government land, as President Raul Castro works to revive the floundering agricultural sector

Raul Modesto Castro28 August 2008

Government / Communist Party Government

It is reported that Cuba had notified at least 2 foreign Governments that it could not meet debt payments

Raul Modesto Castro6 September 2008

Havana · Government / Communist Party Government

Cuba politely declined a US offer to send a disaster assessment team to the island after Hurricane Gustav, saying it would rather Washington suspend restrictions on travel and the sale of food and other materials it needs to recover

Raul Modesto Castro8 September 2008

Havana · Government / Communist Party Government

Deadly Hurricane Ike roared across Cuba, blowing buildings to rubble and sending waves surging over homes, 900,000 Cubans evacuated from its path, which forecasters said could take it to Louisiana or Texas

Raul Modesto Castro9 September 2008

Havana · Government / Communist Party Government

Hurricane Ike roared south of Havana, Cuba, after tearing across the island nation, ravaging homes, killing at least four people and forcing 1.2 million to evacuate

2010

Raul Modesto Castro14 September 2010

Government / Communist Party Government

President Barack Obama extended the embargo through September 14, 2011, determining that the embargo "is in the national interest of the United States

Names involved

Fidel Alejandro CastroRaul Modesto Castro

Provenance

This factsheet is generated from stored World History Database records matching the country, broad category, detailed category and exact Event value shown above. Duplicate display records are collapsed; database wording is otherwise preserved. Source provenance varies by record, so formal academic citation should be checked against the relevant primary source, archive or specialist historical reference.