Cuban-American entrepreneur Carlos Saladrigas has outlined a comprehensive roadmap for Cuba's reconstruction during a live interview. According to him, the entire process will span at least seven years, with the initial phase demanding an investment of $6-10 billion.
Saladrigas divides the plan into three stages. The first stage, stabilization, is the most pressing and expensive. "Our estimates suggest that this initial phase should take between 2 and 4 years. Hopefully, it can be done in three, and it will cost around $6 to $10 billion, no less," he stated. This phase aims to transform Cuba from what he describes as a "failed" economy to one that attracts private and foreign investment. It involves stabilizing the power grid, ensuring humanitarian food aid, restoring education and public health, and maintaining public order.
The funding for this initial stage is expected to come primarily from the Cuban diaspora, the U.S. government—akin to a Marshall Plan—and to a lesser extent, the European Union and Latin America. Saladrigas emphasizes that Cuba lacks natural resources to aid the process: "Cuba doesn't have oil. The money needed for the transition won't come from underground. We Cubans must work hard for it."
The second phase, infrastructure reconstruction, would take an additional five years and involves rebuilding ports, airports, roads, and potable water networks, while modernizing the economy. Saladrigas highlights the necessity for Cuba to import young people and open immigration to counteract demographic aging. The third phase, termed "vision," seeks to transform Cuba into a Caribbean financial hub comparable to Singapore or Israel, leveraging its human capital, geographical proximity to the U.S., and sectors like medical tourism and artificial intelligence.
Saladrigas is firm on the issue of sanctions: "It's impossible, impossible for the Cuban economy to rise with these sanctions," he remarked, stressing that lifting them entirely is crucial for any recovery. Regarding the negotiations between the Trump administration and the Cuban regime—disclosed by USA Today and Axios on March 8—he adopted a pragmatic stance: "It's what it is. It's pure pragmatism," though he lamented that Cubans lack direct agency in the process.
The interview comes amid an unprecedented economic collapse. The Cuban economy contracted by 5% in 2025, accumulating a 15% decline since 2020, according to the Cuban Economy Studies Center. Blackouts exceed 20 hours a day, the Cuban peso depreciated from 24 per dollar in 2019 to over 450 in 2025, and tourism plummeted from 4.7 million to 1.8 million visitors between 2018 and 2025.
Saladrigas, who has been advocating for Cuba's economic opening since 2001 and has trained over 15,000 Cuban entrepreneurs for free through the Cuba Emprende Foundation, concluded with a harsh critique of the revolutionary model: "They have been wrong for 67 years: they fought against wealth instead of fighting poverty, which is the right thing to do." His vision for the future is ambitious: "I want a Cuba that is extraordinary, exceptional, and a major financial center in the Caribbean in 10 to 15 years."
FAQs on the Economic Stabilization of Cuba
What are the main phases of Cuba's reconstruction plan?
The reconstruction plan is divided into three main phases: stabilization, infrastructure reconstruction, and vision. The first phase focuses on making the economy attractive for investment, while the second involves rebuilding essential infrastructure. The final phase aims to transform Cuba into a financial hub.
How will the stabilization phase be funded?
Funding for the stabilization phase is expected to come mainly from the Cuban diaspora and the U.S. government, with additional support from the European Union and Latin America.
Why is lifting sanctions crucial for Cuba's economic recovery?
According to Carlos Saladrigas, lifting sanctions is essential because they severely hinder the Cuban economy's ability to recover and grow. Removing them is necessary for any substantial economic revival.