At the start of the 21st century, the Cuban economy seemed to continue in the long and slow process of recovery after the grave crisis of the 1990s. But several negative factors struck in 2001 and the first half of 2002, including the terrorist attacks of September 11, 2001; the recession that began in March 2001; the fall of the world prices of nickel; the hurricane Michelle that hit the island on November 4; the shut down of the Russian surveillance base in Lourdes; the drop of direct foreign investment, and the economic consequences of the deteriorated political situation in Venezuela. Mainly based on statistics and information from Cuban sources, this paper evaluates Cuban economic and social performance in 2000-2001 and the first half of 2002; the situation in this period is contrasted with that in 1989 (prior to the crisis) and 1993 (the worst point in the crisis).
Cuba; social indicators; development; economic performance; world crisis
