Cuba to allow greater farming autonomy

Cuba to allow greater farming autonomy
Posted on September 12, 2012

HAVANA (AP) — Cuba says it will give greater autonomy to well-run
agricultural cooperatives on the island and eliminate about 300 that are
not performing up to par.

The measures announced Wednesday mean that the majority of cooperatives
will have their government debt forgiven and will be granted 25 years to
pay back any outstanding bank debt.

In exchange, subsidies that allow the organizations to get beneficial
interest rates and lower prices are being eliminated.

Agriculture is the only sector in Cuba's Marxist economy in which
private cooperatives are allowed, though the government has promised to
expand the practice into other areas by year's end.

The new rules were announced by Cuban state media

http://www.businessweek.com/ap/2012-09-12/cuba-to-allow-greater-farming-autonomy