foreign investment law


It may or not be a coincidence that Cuban leader Raúl Castro disclosed his new foreign investment law this week just as Venezuela was getting another big thumbs-down from the financial world.

Cuba’s threadbare communist economy depends on kindred benefactors like socialist Venezuela. But as that oil-rich country’s own economy continues to implode – the Fitch Ratings company downgraded Venezuelan credit to “Outlook Negative” on Tuesday – Castro has no choice but to open his island’s rusted doors more broadly to capital, capitalism and capitalists.