Has Cuba Banking System Failed. The cuban government admitted failure in the implementation of banking and the official exchange rate policy, triggering a wave of criticism from citizens who. Cubans are reporting via social media all their money is gone from their accounts, and all automated.

Already grappling with persistent blackouts and food scarcities, they now face the daily hurdle of acquiring. Accustomed to lugging around thick wads of cash, cubans are skeptical of government efforts to force them to deposit their money into a crumbling banking.