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Carol How | all galleries >> Cuba, the forgotten > Crumbling Industry
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Crumbling Industry

Crumbling Industry

Cuba's precarious economic position is complicated by the high price it must pay for foreign financing. The Cuban Government defaulted on most of its international debt in 1986 and does not have access to credit from international financial institutions like the World Bank, which means Havana must rely heavily on short-term loans to finance imports, chiefly food and fuel. Because of its poor credit rating, an $11 billion hard currency debt, and the risks associated with Cuban investment, interest rates have reportedly been as high as 22%.

We all know about the European economies and their woes, but I was not aware of Cuba's issues.

Nikon D800
1/320s f/9.0 at 50.0mm iso125 full exif

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eye2see06-Jan-2013 05:29
So very well captured!
Glenn Dean (Vatorman)06-Jan-2013 01:55
Interest fact and accompanying shot to emphasize it; although my first thought at seeing the image made me think of several small towns right in the US that have a dying and crumbling core.
settler05-Jan-2013 09:23
Yes the photo says it!..V!
an nguyen05-Jan-2013 03:58
The image strongly advocate for the crumbling Cuba .
I am not aware of Cuba 's issues either , but such a sad situation for Cuban people .
Barbara Read and Fred Schaad04-Jan-2013 18:06
A very well made documentary image and a sad situation for the people of Cuba. Voted
globalgadabout04-Jan-2013 16:21
a potent representation of the country's sad plight...location-wise it is a gem, but 50 years of Castro government has failed the people badly..
Dan Greenberg04-Jan-2013 15:42
I was not aware of that either though coincidentally I am reading a book on Cuba called "Cuba: What Everyone Needs to Know", even as we speak. I am not up to the part covering the more recent history yet. So your images are extremely timely in that regard. I have wanted to go there for a long time, but it is much harder for us here in the states, though now there are finally possibilities. Again, viewing this magnificent image, I cannot get over how much like an archaeological site it looks like. ~BV~
Walter O. Koenig04-Jan-2013 15:28
Strong documentary work showing the decay and the plight with these crumbling buildings and the horse and carriage. "V"
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