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Planet Money

Dark times for Cuba’s economic experiment

02 Apr 2026

Transcription

Chapter 1: What is the main topic discussed in this episode?

1.246 - 3.416 Erika Barris

This is Planet Money from NPR.

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6.671 - 15.708 Nick Fountain

Cuba is in crisis. Since January, the U.S. has been preventing almost all oil from reaching the island.

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15.728 - 19.454 Erika Barris

Doctors can't get to the hospitals where they work. Many buses aren't running.

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Chapter 2: What is the current economic crisis facing Cuba?

19.574 - 26.605 Erika Barris

Trucks can't deliver food and medicine where they're needed. People's lives are in danger because there are frequent and long blackouts.

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27.245 - 32.994 Nick Fountain

In the last few weeks, on more than one occasion, the entire country has lacked power.

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Chapter 3: How have recent U.S. policies affected Cuba's economy?

33.275 - 35.438 Nick Fountain

In one case, for more than a full day.

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35.637 - 44.085 Erika Barris

We wanted to understand what it's like for people trying to make their way in Cuba right now, what it's like to try to work or to run a business.

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44.605 - 51.832 Nick Fountain

Because even though Cuba has a communist government, at times it's also had a pretty thriving private business sector.

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52.353 - 76.129 Erika Barris

But recently, these blackouts have become so frequent that it's hard to even charge your phone. Self-service and Internet are spotty. So I've been talking to people through voice notes. Like this farmer, Lady Casimiro, who says she can only use her phone for about two hours a day and never knows when.

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76.149 - 80.882 Nick Fountain

She also told us right now she has no gas, so she can't get to the other farmers she works with.

81.453 - 96.247 Erika Barris

A hotel manager named Wilfredo Medeiros-Garcia told me when the electricity's out, you have to keep the fridge closed. Try not to open it. And then, when the electricity comes back on, you jump into action.

96.787 - 106.056 Nick Fountain

A lot of people said that if the power comes on in the middle of the night, that's when they cook. That's when they work on their computers, use their phone.

106.276 - 108.658 Erika Barris

Like this guy who runs a bicycle business.

108.925 - 111.949 Unknown

Hello Erika, my name is Yacer González Cabrera.

Chapter 4: What historical economic strategies has Cuba employed?

1360.353 - 1372.832 Erika Barris

And now when Ricardo goes back to visit, he says it seems Cuba's rich are getting richer. You see Teslas and Escalades on the streets. But he says Cuba's poor are also getting poorer.

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1372.812 - 1390.107 Ricardo Torres

Things that were unthinkable in Cuba before, and I say with sorrow, I'm not proud about those, You know, beggars, people like looking for food in trash cans. That's become very common. Trash was piling up.

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1390.728 - 1395.174 Erika Barris

Ricardo says that's the Cuba he saw the last time he was there in 2025.

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1396.215 - 1409.032 Nick Fountain

And then at the start of this year, the U.S. captured the president of Venezuela and essentially took over its oil industry. So that lifeline Cuba was getting from its best compadre was yanked away.

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1409.373 - 1433.814 Erika Barris

The Trump administration told Venezuela no more oil for Cuba. And they told other countries that would have sold oil to Cuba, like Mexico, that if they do, they will get tariffed. Then this week, after several months preventing any oil tanker from reaching Cuba, President Trump changed his mind, decided, yes, yes. he would let a tanker from Russia land on Cuba's shores.

1434.296 - 1437.41 Nick Fountain

Ricardo says it seems Cuba is at the mercy of the U.S.

1437.772 - 1443.255 Ricardo Torres

The oil embargo... has exposed all the vulnerabilities of Cuba at once.

1443.856 - 1462.489 Erika Barris

U.S. foreign policy is choking off much of the help the Cuban government gets from its allies. And Cuba's big industry, tourism, requires tourists who either can't or won't visit a country whose antiquated Soviet electrical system definitely cannot survive a U.S. oil embargo.

1462.469 - 1481.021 Ricardo Torres

So now you are confronting your two real challenges. One is a dysfunctional economy at home and then the U.S. government 90 miles away. The only way out for Cuba is through a negotiation with the United States.

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