CubaHeadlines

Cuban Government Targets El Toque Amid Peso's Uncontrolled Plunge

Thursday, July 10, 2025 by Claire Jimenez

The Cuban government, using its official platform Cubadebate, has launched a fresh offensive against the independent outlet El Toque, accusing it of aggravating the nation's financial crisis through its Informal Market Representative Rate (TRMI), which accurately portrays the real value of foreign currency on Cuban streets. The article in question, sourced from TeleSur, is filled with insinuations and conspiracy theories. In truth, it serves as another attempt by the regime to divert attention from its own failed policies, blaming a digital platform for the collapse of an economy devastated by decades of centralism, censorship, and neglect.

Rather than acknowledging its role in the systematic decline of the national economy, Cubadebate targets El Toque for supposedly influencing informal markets, "amplifying inflation," and "exacerbating inequality," while alleging links to foreign organizations such as the Open Society Foundations and the National Endowment for Democracy. The state-run media outlet fails to provide concrete evidence of data manipulation by El Toque, opting instead to label the source of its funding as "suspicious" and questioning its use of algorithms for exchange rate calculations.

However, as El Toque has repeatedly clarified, its TRMI is an informational tool based on the automated analysis of thousands of ads on social media and sales platforms like Revolico. The outlet does not set prices; it merely reports what is already happening in the informal market, the only functional space left for millions of Cubans to access foreign currency due to the total ineffectiveness of the state banking system.

Misplaced Blame and Economic Realities

The absurdity of the regime's narrative lies in its logic: it suggests that publishing exchange rate data is responsible for its increase, effectively blaming the messenger rather than the message. The Cuban economy's collapse is not due to El Toque reporting the dollar's value, but rather because the country lacks production, exports, sufficient foreign currency, and relies on printing unsupported money, turning the informal market into the only reliable benchmark for most citizens. What Cubadebate deems an "economic weapon" is, in reality, a journalistic and technological response to institutional opacity and the State's utter disconnect from its people's reality.

A Pattern of Desperate Tactics

This isn't the first time the regime has tried to scapegoat El Toque for its own failures. In May 2024, the Banco Metropolitano accused the outlet of being part of an alleged "induced inflation operation" orchestrated by the United States, aiming to incite a "social explosion" through dollar hikes. These claims were widely debunked by Cuban economists. Expert Carlos L. Martínez described the bank's analysis as "a string of nonsense," asserting that the writer was "more ideologue than economist." Meanwhile, renowned economist Pedro Monreal openly called for "necessary education for the bankers of the Metropolitano." Both agreed that inflation, scarcity, poverty, and the peso's devaluation stem from the failed economic model governing the Island.

Compounding these issues are governmental decisions such as the creation of MIPYMES without access to foreign currency, cash shortages, the lack of support for the MLC, and forced bancarization, all driven by the State itself.

The Regime's Smokescreen

The attack on El Toque is merely another smokescreen. As the dollar surpasses 385 CUP in the informal market, the Cuban government persists in blaming a website for a situation it has orchestrated over more than six decades. The repression of freedoms, lack of transparency, and refusal to implement structural reforms keep Cuba entrenched in a deep crisis that requires no external enemies, as the greatest adversary has been the system itself. The real threat to the regime isn't El Toque; it's the truth this outlet reveals daily: the Cuban people no longer believe in excuses.

Exploring Cuba's Economic Challenges

What is the Informal Market Representative Rate (TRMI)?

The TRMI is a tool used by El Toque to report the real value of foreign currencies on the streets of Cuba, based on automated analysis of ads on social media and sales platforms.

Why is the Cuban government blaming El Toque for the economic crisis?

The Cuban government accuses El Toque of exacerbating the financial crisis through its reporting on the TRMI, despite lacking evidence, as a means to divert attention from its own policy failures.

How do Cuban economists view the government's accusations against El Toque?

Cuban economists have widely discredited the government's accusations, attributing the crisis to the failed economic model rather than the reporting by El Toque.

© CubaHeadlines 2025