Central Bank of Cuba
The Central Bank of Cuba (Spanish: Banco Central de Cuba, BCC) is the central bank of Cuba. It was created in 1997, to take over many of the functions of the National Bank of Cuba (Spanish: Banco Nacional de Cuba). From its creation, until May 2009, the President was Francisco Soberón Valdés and the current head is Ernesto Medina Villaveiran.
The bank is headed by a single President with five vice-presidents:
- First Vice President
- Administrative Vice President
- Vice President, Analysis and Strategic Objectives of the Cuban Bank System
- Vice President, Macroeconomics
- Vice-President, Operations
Functions of the Bank
Its website sets out its mission:
- To issue the national currency and seek for its stability.
- To contribute to the macroeconomic balance and orderly development of the economy.
- To keep custody of the country’s international reserves.
- To propose and implement a monetary policy which allows to attain the economic goals established by the country.
- To ensure normal internal and external payment operations.
- To dictate mandatory regulations.
- To exercise the functions related to the discipline and supervision of the financial institutions and representative offices authorised to establish themselves in the country and of any other entrusted to it by the laws.
The President of the Central Bank is a member of the Council of Ministers of Cuba.
- (Spanish) (English) Central Bank of Cuba official site
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