Today Hotel Havana Riviera is the only hotel built before the revolutionary government took control. [34] Cuban Revolution[edit] On 3 March 1959, Fidel Castro seized control of the Cuban Telephone Company, which was a subsidiary of the International Telephone and Telecommunications Corporation. This was the first of many nationalizations made by the new government; the assets seized totaled US$9 billion.
In February, the government created new restrictions to the private sector, with prohibitions on 124 activities, [114] in areas like national security, health, and educational services. [115] Wages and pensions were increased again, between 4 and 9 times, for all the sectors. For example, a university instructor's salary went from 1500 to 5500 CUP. Additionally, the dollar price was maintained by the Cuban central bank at 24 CUP, but was unable to sell dollars to the population due to the drought of foreign currency created by the COVID-19 pandemic. [116] Public facilities[edit] Bodegas – Local shops offering basic products such as rice, sugar, salt, beans, cooking oil, matches, rum at low prices.
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