Juan O. Tamayo, Miami Herald
Cuban bank assets deposited in an international group of financial institutions showed a second stunning plunge in a row, with the total nose diving from $5.65 billion on Sept. 30 to $2.8 billion at the end of March.
“Two consecutive quarters of massive bank withdrawals signal a drastic policy change in Cuba that is not the result of temporary factors,” wrote Luis F. Luis, a former chief economist at the Organization of American States who has been monitoring the deposits.
The Bank of International Settlements (BIS) regularly reports banking statistics, such as deposits by Cuban banks, from 43 major Western and emerging economies and offshore financial centers around the world.
