Cuba’s agriculture minister says the country wants to increase food production to cut food imports in half. Cuba currently imports $2 billion of food per year, but it needs medium and long-term credit to buy U.S. equipment to achieve that goal of cutting food imports in half, according to the Hagstrom Report. Cuba needs new equipment as many farmers are using Caterpillar, John Deere and Massey Ferguson farm equipment that were imported before the 1959 revolution. Financing exports to Cuba, even of agricultural products, is prohibited under the 2000 law that allowed agricultural exports.
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