HAVANA — The Cuban government has authorized local banks to offer credit to private small business owners and agricultural producers as part of a sweeping economic overhaul announced last year.

Havana is dismissing hundreds of thousands of state employees while granting licenses for a broad array of private businesses to absorb the layoffs.

The credit measure is intended to help would-be entrepreneurs get off the ground.

State-run newspaper Granma announced Wednesday that the measure was approved March 25 during a meeting of the Council of Ministers, presided over by President Raul Castro.

Castro has said the economic overhaul is intended to update Cuba's socialist economic model and is not a wholesale switch to capitalism.



Recent Articles

Date Title
3/31/11 Carter aide: Gross didn’t know he was taking US-financed equipment to Cuba
Frances Robles and Juan Tamayo, Miami Herald
3/31/11 Carter meets with Fidel Castro and dissidents in Cuba
Juan Tamayo, El Nuevo Herald
3/31/11 Current Record
3/30/11 Carter to meet with dissidents while in Cuba
Juan Tamayo, El Nuevo Herald
3/29/11 Carter to meet with dissidents while in Cuba
Juan Tamayo, Miami Herald
3/28/11 Carter visits Cuba amid dispute over contractor
Peter Orsi, Miami Herald
3/28/11 Carter in Cuba for meetings with Raúl, Ortega
Juan Tamayo, El Nuevo Herald
3/28/11 Carter in Cuba for meetings with Raúl, Ortega
Juan Tamayo, El Nuevo Herald
3/26/11 Jimmy Carter to visit Jewish community in Cuba
Andrea Rodriguez, Miami Herald
3/25/11 Castro says he relinquished duties 5 years ago
AP, Boton Globe
3/25/11 Cuba names new economy minister, puts outgoing official in charge of reforms
AP, Washington Post
3/24/11 Cuban TV Makes Me a Star!
Yoani Sanchez, The Huffington Post
3/23/11 Obama unlikely to make new gestures to Cuba without action from Havana
Andres Oppenheimer, Miami Herald
3/23/11 Fidel Castro apologizes after party post comments caused a stir
Juan Tamayo, El Nuevo Herald
3/22/11 Cuba's Fidel Castro says he quit as Communist Party Chief 5 years ago
Paul Haven, AP
3/22/11 Fidel Castro sorry for causing an uproar about not being the Communist Party leader
3/18/11 Cubans vent frustrations as party congress nears
Reuters
3/16/11 U.S.-Cuba policy needs dose of common sense
Phil Peters, Miami Herald
3/16/11 Bob Graham: U.S. needs pact to protect shores if Cuba drills for oil
William Gibson, Orlando Sentinel
3/14/11 Exiles bring the majority of satellite phones to Cuba
Juan Tamayo, Miami Herald
3/14/11 White House demands that Cuba free U.S. worker
AP, L.A. Times
3/14/11 Like oil and water in the gulf
Sarah Stephens, L.A. Times
3/14/11 Freed dissident to speak publicly on imprisonment
Melissa Sanchez, Miami Herald
3/12/11 Cuba Gives 15-Year Prison Term to American
Elizabeth Harris, The New York Times
3/11/11 Cuban dissident Oscar Biscet to be released
Juan Tamayo and Juan Carlos Chavez, El Nuevo Herald
3/11/11 Gaddafi and Castro, Solidarity Between Despots
Yoani Sanchez, The Huffington Post
3/9/11 New details are emerging from the Alan Gross trial in Cuba
Juan Tamayo, El Nuevo Herald
3/9/11 Cuban state layoffs move slowly, workers uneasy
Mark Frank, Reuters
3/7/11 Cuban Trial of American Reaches End
Ginger Thompson, The New York Times
3/7/11 Ferry operators hope to offer service from South Florida to Cuba
William Gibson, Sun Sentinel
3/5/11 U.S. contractor found guilty in Cuba trial
Jeff Franks, Reuters
3/4/11 U.S. contractor to go on trial in Cuba
Reuters
3/3/11 Scenarios: Contractor caught in U.S.-Cuba conflict
Jeff Franks, Reuters
3/3/11 Cubans' 50-year tax holiday coming to an end
Carlos Batista, AFP
3/2/11 Release Alan Gross
Rev. Jesse Jackson, The Huffington Post
3/1/11 Castro says Cuba's mass layoffs delayed
Reuters
3/1/11 A Middle East-Like Revolution in Cuba? Don't Hold Your Breath
Chris Sabatini, The Huffington Post