IBOV 173,871.39 ▼ 1.22% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,249,524 ▼ 1.27% COLCAP 2,268.93 ▼ 1.01% BVL PERÚ 57,112.22 — — USD/BRL5.10▲ 0.45% USD/MXN17.45▲ 0.34% USD/CLP927.20▲ 0.13% USD/COP3,211▼ 1.51% USD/PEN3.39▲ 0.22% USD/ARS1,474▼ 0.14% USD/UYU40.18▲ 1.21% USD/PYG6,030▲ 1.35% USD/BOB10.63▲ 3.73% USD/DOP58.14▼ 0.19% USD/CRC447.87▲ 1.07% USD/GTQ7.62▲ 2.25% USD/HNL26.73▲ 0.09% USD/NIO36.62▲ 0.34% USD/VES725.63▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 0.31% USD/TTD6.75▲ 1.34% EUR/BRL5.84▲ 0.52% BRENT 85.16 ▲ 0.25% WTI 79.84 ▲ 0.30% IRON ORE 161.91 — — COPPER 6.36 ▲ 1.07% GOLD 4,004 ▼ 0.98% SILVER 56.33 ▼ 1.37% SOY 1,200 ▼ 0.17% CORN 466.25 ▲ 4.19% WHEAT 682.00 ▲ 0.66% COFFEE 313.65 ▼ 6.22% SUGAR 14.44 ▼ 2.76% ORANGE JUICE 136.30 ▼ 1.84% COTTON 79.83 ▼ 0.91% COCOA 5,566 ▼ 2.98% BEEF 223.68 ▼ 2.80% CATTLE 345.88 ▼ 1.16% LITHIUM 69.39 ▼ 2.35% PETR4 40.60 ▲ 0.02% VALE3 73.21 ▼ 1.74% ITUB4 42.70 ▼ 1.02% BBDC4 18.38 ▼ 1.18% ABEV3 15.57 — 0.00% BBAS3 20.63 ▲ 0.39% B3SA3 15.44 ▼ 1.59% WEGE3 43.94 ▼ 0.72% PRIO3 57.58 ▲ 0.14% SUZB3 41.74 ▲ 0.63% RENT3 39.60 ▼ 1.86% AZZA3 18.54 ▼ 0.64% CSAN3 3.89 ▼ 1.02% RAIZ4 0.30 ▲ 3.45% PCAR3 2.65 ▲ 1.15% GMAT3 3.91 ▼ 1.76% PSSA3 54.92 ▼ 0.54% CVCB3 1.35 ▲ 0.75% POSI3 3.87 ▼ 2.03% SLCE3 13.58 ▲ 0.59% NATU3 8.63 ▼ 0.46% BRKM5 6.21 ▼ 3.12% RANI3 8.02 ▲ 0.50% CSNA3 5.17 ▼ 1.34% CMIN3 5.44 ▲ 3.82% USIM5 8.23 ▲ 0.37% GGBR4 24.34 ▲ 0.58% ENEV3 26.33 ▼ 2.30% CPFE3 46.60 ▼ 0.49% CMIG4 11.00 ▼ 1.35% EQTL3 39.80 ▼ 1.31% LREN3 13.83 ▼ 1.91% VIVT3 35.33 ▼ 0.39% RAIL3 13.93 ▼ 1.00% KLABIN 17.47 ▲ 0.46% RAIA DROGASIL 18.66 ▼ 0.05% RDOR3 35.70 ▼ 0.86% HAPV3 10.89 ▼ 0.91% FLRY3 16.38 ▼ 0.79% SMTO3 15.54 ▲ 0.06% UGPA3 31.70 ▲ 1.93% VBBR3 34.38 ▲ 1.87% BBSE3 41.11 ▲ 0.98% BPAC11 56.74 ▼ 0.53% CURY3 32.15 ▼ 1.77% AERI3 2.02 — 0.00% VIVARA 23.40 ▼ 0.51% COMPASS 24.96 ▼ 0.60% VAMOS 3.15 ▲ 0.96% SANB11 26.78 ▼ 0.81% ASAI3 8.60 ▼ 0.69% SBSP3 29.62 ▼ 1.20% WALMEX 49.68 ▼ 0.04% GMEXICO 200.32 ▲ 0.05% FEMSA 225.68 ▲ 1.24% CEMEX 22.94 ▲ 1.41% GFNORTE 181.02 ▼ 1.33% BIMBO 59.00 ▲ 2.57% TELEVISA 9.55 ▼ 0.10% AMX 22.82 ▲ 0.09% GAP 395.14 ▼ 0.49% ASUR 282.25 ▼ 0.43% OMA 235.04 ▼ 0.07% KOF 179.36 ▲ 1.36% GRUMA 284.01 ▲ 0.95% KIMBER 38.72 ▲ 0.16% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 78,900 ▲ 0.45% GGAL 8,045 ▼ 1.95% PAMPA 5,160 ▼ 1.53% TXAR 666.00 ▼ 0.75% ALUAR 954.00 ▼ 0.57% TGS 9,610 ▼ 1.44% CEPU 2,312 ▼ 1.37% MIRGOR 16,600 ▼ 2.21% COME 45.29 ▼ 0.75% LOMA NEGRA 3,598 ▼ 0.42% BYMA 301.00 ▼ 0.99% TELECOM ARG 4,255 ▼ 1.39% ECOPETROL 15.75 ▼ 1.44% BANCOLOMBIA 80.15 ▼ 1.72% GRUPO AVAL 5.02 ▼ 0.20% CREDICORP 395.45 ▼ 0.69% SOUTHERN COPPER 179.57 ▼ 1.09% BUENAVENTURA 30.17 ▼ 1.76% MERCADOLIBRE 1,858 ▲ 0.78% NUBANK 13.88 ▼ 0.04% XP 16.65 ▼ 1.30% PAGSEGURO 9.22 ▲ 0.11% STONE 11.25 ▼ 0.31% GLOBANT 31.71 ▼ 0.84% TECNOGLASS 46.92 ▲ 2.73% GAP AIRPORT 226.67 ▼ 0.50% ASUR 282.25 ▼ 0.43% OMA AIRPORT 108.37 ▲ 0.44% AMX ADR 26.15 ▲ 0.15% FEMSA ADR 129.66 ▲ 0.69% CEMEX ADR 13.16 ▲ 0.65% PETROBRAS ADR 17.73 ▼ 0.76% VALE ADR 14.30 ▼ 2.51% ITAU ADR 8.36 ▼ 1.07% SANTANDER BR 5.27 ▼ 1.59% AMBEV ADR 3.03 — 0.00% CSN 1.03 ▼ 0.49% GERDAU 4.80 ▼ 0.10% LATAM ADR 54.30 ▼ 1.04% BTC 64,665 ▼ 0.07% ETH 1,886 ▼ 1.62% SOL 76.59 ▼ 0.87% XRP 1.11 ▲ 0.10% BNB 579.76 ▼ 0.06% ADA 0.16 ▼ 0.48% DOGE 0.07 ▼ 0.51% AVAX 6.64 ▼ 0.84% LINK 8.45 ▼ 1.03% DOT 0.85 ▲ 0.19% LTC 44.90 ▼ 0.50% BCH 223.22 ▲ 0.03% TRX 0.32 ▼ 0.39% XLM 0.19 ▲ 1.23% HBAR 0.07 ▼ 0.41% NEAR 2.07 ▲ 0.29% ATOM 1.53 ▼ 1.51% AAVE 93.94 ▼ 1.97% SELIC 14.25% EMBRAER 82.88 ▲ 0.64% EMBRAER ADR 64.95 ▲ 0.08% JBS 12.16 ▲ 0.50% JBS BDR 61.91 ▲ 0.78% MBRF3 15.24 ▼ 1.04% MBRFY 2.95 ▲ 2.79% INTER 5.49 ▼ 2.40% EGX 52,928 ▲ 0.70% USD/ZAR16.42▲ 0.58% USD/NGN1,378▼ 0.12% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,073 ▼ 0.02% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY162.42▲ 0.15% USD/CNY6.77▲ 0.05% DAX 24,810 ▼ 0.76% CAC 8,335 ▼ 0.57% FTSE 10,506 ▼ 0.10% MIB 52,118 ▼ 0.56% IBEX 19,191 ▼ 0.44% STOXX 641.37 ▼ 0.21% EUR/USD1.14▼ 0.16% GBP/USD1.35▲ 0.75% SPX 7,570 ▼ 0.03% DJI 52,740 ▲ 0.15% NDX 29,288 ▼ 0.73% RUT 2,996 ▲ 0.66% TSX 35,329 ▼ 0.25% VIX 15.97 ▲ 1.91% USD/CAD1.40▼ 0.09% US10Y 4.5800 ▲ 0.77% IBOV 173,871.39 ▼ 1.22% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,249,524 ▼ 1.27% COLCAP 2,268.93 ▼ 1.01% BVL PERÚ 57,112.22 — — USD/BRL 5.10 ▲ 0.45% USD/MXN 17.45 ▲ 0.34% USD/CLP 927.20 ▲ 0.13% USD/COP 3,211 ▼ 1.51% USD/PEN 3.39 ▲ 0.22% USD/ARS 1,474 ▼ 0.14% USD/UYU 40.18 ▲ 1.21% USD/PYG 6,030 ▲ 1.35% USD/BOB 10.63 ▲ 3.73% USD/DOP 58.14 ▼ 0.19% USD/CRC 447.87 ▲ 1.07% USD/GTQ 7.62 ▲ 2.25% USD/HNL 26.73 ▲ 0.09% USD/NIO 36.62 ▲ 0.34% USD/VES 725.63 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.49 ▲ 0.31% USD/TTD 6.75 ▲ 1.34% EUR/BRL 5.84 ▲ 0.52% BRENT 85.16 ▲ 0.25% WTI 79.84 ▲ 0.30% IRON ORE 161.91 — — COPPER 6.36 ▲ 1.07% GOLD 4,004 ▼ 0.98% SILVER 56.33 ▼ 1.37% SOY 1,200 ▼ 0.17% CORN 466.25 ▲ 4.19% WHEAT 682.00 ▲ 0.66% COFFEE 313.65 ▼ 6.22% SUGAR 14.44 ▼ 2.76% ORANGE JUICE 136.30 ▼ 1.84% COTTON 79.83 ▼ 0.91% COCOA 5,566 ▼ 2.98% BEEF 223.68 ▼ 2.80% CATTLE 345.88 ▼ 1.16% LITHIUM 69.39 ▼ 2.35% PETR4 40.60 ▲ 0.02% VALE3 73.21 ▼ 1.74% ITUB4 42.70 ▼ 1.02% BBDC4 18.38 ▼ 1.18% ABEV3 15.57 — 0.00% BBAS3 20.63 ▲ 0.39% B3SA3 15.44 ▼ 1.59% WEGE3 43.94 ▼ 0.72% PRIO3 57.58 ▲ 0.14% SUZB3 41.74 ▲ 0.63% RENT3 39.60 ▼ 1.86% AZZA3 18.54 ▼ 0.64% CSAN3 3.89 ▼ 1.02% RAIZ4 0.30 ▲ 3.45% PCAR3 2.65 ▲ 1.15% GMAT3 3.91 ▼ 1.76% PSSA3 54.92 ▼ 0.54% CVCB3 1.35 ▲ 0.75% POSI3 3.87 ▼ 2.03% SLCE3 13.58 ▲ 0.59% NATU3 8.63 ▼ 0.46% BRKM5 6.21 ▼ 3.12% RANI3 8.02 ▲ 0.50% CSNA3 5.17 ▼ 1.34% CMIN3 5.44 ▲ 3.82% USIM5 8.23 ▲ 0.37% GGBR4 24.34 ▲ 0.58% ENEV3 26.33 ▼ 2.30% CPFE3 46.60 ▼ 0.49% CMIG4 11.00 ▼ 1.35% EQTL3 39.80 ▼ 1.31% LREN3 13.83 ▼ 1.91% VIVT3 35.33 ▼ 0.39% RAIL3 13.93 ▼ 1.00% KLABIN 17.47 ▲ 0.46% RAIA DROGASIL 18.66 ▼ 0.05% RDOR3 35.70 ▼ 0.86% HAPV3 10.89 ▼ 0.91% FLRY3 16.38 ▼ 0.79% SMTO3 15.54 ▲ 0.06% UGPA3 31.70 ▲ 1.93% VBBR3 34.38 ▲ 1.87% BBSE3 41.11 ▲ 0.98% BPAC11 56.74 ▼ 0.53% CURY3 32.15 ▼ 1.77% AERI3 2.02 — 0.00% VIVARA 23.40 ▼ 0.51% COMPASS 24.96 ▼ 0.60% VAMOS 3.15 ▲ 0.96% SANB11 26.78 ▼ 0.81% ASAI3 8.60 ▼ 0.69% SBSP3 29.62 ▼ 1.20% WALMEX 49.68 ▼ 0.04% GMEXICO 200.32 ▲ 0.05% FEMSA 225.68 ▲ 1.24% CEMEX 22.94 ▲ 1.41% GFNORTE 181.02 ▼ 1.33% BIMBO 59.00 ▲ 2.57% TELEVISA 9.55 ▼ 0.10% AMX 22.82 ▲ 0.09% GAP 395.14 ▼ 0.49% ASUR 282.25 ▼ 0.43% OMA 235.04 ▼ 0.07% KOF 179.36 ▲ 1.36% GRUMA 284.01 ▲ 0.95% KIMBER 38.72 ▲ 0.16% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 78,900 ▲ 0.45% GGAL 8,045 ▼ 1.95% PAMPA 5,160 ▼ 1.53% TXAR 666.00 ▼ 0.75% ALUAR 954.00 ▼ 0.57% TGS 9,610 ▼ 1.44% CEPU 2,312 ▼ 1.37% MIRGOR 16,600 ▼ 2.21% COME 45.29 ▼ 0.75% LOMA NEGRA 3,598 ▼ 0.42% BYMA 301.00 ▼ 0.99% TELECOM ARG 4,255 ▼ 1.39% ECOPETROL 15.75 ▼ 1.44% BANCOLOMBIA 80.15 ▼ 1.72% GRUPO AVAL 5.02 ▼ 0.20% CREDICORP 395.45 ▼ 0.69% SOUTHERN COPPER 179.57 ▼ 1.09% BUENAVENTURA 30.17 ▼ 1.76% MERCADOLIBRE 1,858 ▲ 0.78% NUBANK 13.88 ▼ 0.04% XP 16.65 ▼ 1.30% PAGSEGURO 9.22 ▲ 0.11% STONE 11.25 ▼ 0.31% GLOBANT 31.71 ▼ 0.84% TECNOGLASS 46.92 ▲ 2.73% GAP AIRPORT 226.67 ▼ 0.50% ASUR 282.25 ▼ 0.43% OMA AIRPORT 108.37 ▲ 0.44% AMX ADR 26.15 ▲ 0.15% FEMSA ADR 129.66 ▲ 0.69% CEMEX ADR 13.16 ▲ 0.65% PETROBRAS ADR 17.73 ▼ 0.76% VALE ADR 14.30 ▼ 2.51% ITAU ADR 8.36 ▼ 1.07% SANTANDER BR 5.27 ▼ 1.59% AMBEV ADR 3.03 — 0.00% CSN 1.03 ▼ 0.49% GERDAU 4.80 ▼ 0.10% LATAM ADR 54.30 ▼ 1.04% BTC 64,665 ▼ 0.07% ETH 1,886 ▼ 1.62% SOL 76.59 ▼ 0.87% XRP 1.11 ▲ 0.10% BNB 579.76 ▼ 0.06% ADA 0.16 ▼ 0.48% DOGE 0.07 ▼ 0.51% AVAX 6.64 ▼ 0.84% LINK 8.45 ▼ 1.03% DOT 0.85 ▲ 0.19% LTC 44.90 ▼ 0.50% BCH 223.22 ▲ 0.03% TRX 0.32 ▼ 0.39% XLM 0.19 ▲ 1.23% HBAR 0.07 ▼ 0.41% NEAR 2.07 ▲ 0.29% ATOM 1.53 ▼ 1.51% AAVE 93.94 ▼ 1.97% SELIC 14.25% EMBRAER 82.88 ▲ 0.64% EMBRAER ADR 64.95 ▲ 0.08% JBS 12.16 ▲ 0.50% JBS BDR 61.91 ▲ 0.78% MBRF3 15.24 ▼ 1.04% MBRFY 2.95 ▲ 2.79% INTER 5.49 ▼ 2.40% EGX 52,928 ▲ 0.70% USD/ZAR 16.41 ▲ 0.78% USD/NGN 1,378 ▼ 0.11% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,073 ▼ 0.02% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY 162.39 ▲ 0.16% USD/CNY 6.7610 ▲ 0.05% DAX 24,810 ▼ 0.76% CAC 8,335 ▼ 0.57% FTSE 10,506 ▼ 0.10% MIB 52,118 ▼ 0.56% IBEX 19,191 ▼ 0.44% STOXX 641.37 ▼ 0.21% EUR/USD 1.1453 ▼ 0.13% GBP/USD 1.3509 ▼ 0.21% SPX 7,570 ▼ 0.03% DJI 52,740 ▲ 0.15% NDX 29,288 ▼ 0.73% RUT 2,996 ▲ 0.66% TSX 35,329 ▼ 0.25% VIX 15.97 ▲ 1.91% USD/CAD 1.4021 ▼ 0.11% US10Y 4.5800 ▲ 0.77%
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Cubans Applaud Biden Win, Hope for Easing of Sanctions

By · November 8, 2020 · 3 min read

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RIO DE JANEIRO, BRAZIL – Drivers honked their horns and applause erupted in Havana on Saturday night after Joe Biden was declared the winner of the U.S. presidential election, reflecting hopes on the Communist-run island that he would seek to improve U.S.-Cuban ties.

Many Cubans say they do not expect the Democratic former U.S. vice president to lift the decades-old American trade embargo on Cuba, or that bilateral relations will return to the heady days of detente under former President Barack Obama.

Under Obama, remittances and U.S. travel had fostered the expansion of Cuba’s fledgling private sector, giving citizens start-up capital and a generous clientele.
Under Obama, remittances and U.S. travel had fostered the expansion of Cuba’s fledgling private sector, giving citizens start-up capital and a generous clientele. (Photo internet reproduction)
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But they feel encouraged by Biden’s assurances he will promptly reverse President Donald Trump’s policies that “have inflicted harm on the Cuban people and done nothing to advance democracy and human rights.”

“I’m tremendously happy,” said Miriam Corrales, 68, a retired economist, who applauded after the news was announced on Cuban state television.

“Biden gives me the impression he will do everything possible to ease sanctions and leave behind the pressures we experienced with Trump.”

The Trump administration unraveled much of Obama’s detente, reverting instead to a decades-old U.S. policy of choking Cuba’s already inefficient state-run economy to force democratic reforms, exacerbating shortages of even basic goods.

“Trump wanted to bury us alive,” said Mercedes Rodríguez, 43, a teacher whose livelihood, like that many of many Cubans, was directly impacted by Trump’s measures. Her sister in the United States sends money every few months to supplement her low salary. But just 10 days before the Nov. 3 U.S. election, the Trump administration announced measures that will likely prevent U.S. money transfers to Cuba.

A top Biden foreign policy adviser told Reuters on condition of anonymity last week that the Democrat would “reverse the decisions that are separating families, limitations on family travel and remittances” if he won the White House.

That suggests, among various measures, that Biden could re-staff the U.S. embassy in Havana, which the Trump administration reduced to skeletal staffing after a series of mysterious illnesses among diplomats stationed there.

That move had forced Cubans to go abroad to get visas to visit their families within the large Florida diaspora.

Economic Engagement

Norma Hernandez is among the many Cubans working in the Caribbean island’s key tourism sector who hope Biden will also ease Trump’s restrictions on non-family U.S. travel to Cuba. Reservations at her bed-and-breakfast have fallen 80% over the past four years.

Benjamin Gedan, a former National Security Council official under Obama and now a scholar at the Wilson Center think tank in Washington, said he expected “a return to the belief that economic engagement gives more autonomy to Cubans from the state and starts a longer process of potential political opening.”

Under Obama, remittances and U.S. travel had fostered the expansion of Cuba’s fledgling private sector, giving citizens start-up capital and a generous clientele.

But the Biden adviser who spoke to Reuters added that while the incoming president wants to “empower” the Cuban people, “we can’t turn back the clock to January 2017.”

Asked whether Biden would ease or lift sanctions that Trump imposed on Cuba, including on oil tanker traffic from Venezuela to Cuba, the adviser said: “We’ll have to take a look there at the whole landscape, what we inherit.”

Whatever steps Biden does take towards improving relations, it’s important they be reciprocated by the Cuban government this time, unlike under Obama when they were not, said Ricardo Herrero, executive director of the Cuba Study Group, a Miami exile organization which supports closer U.S.-Cuban ties.

“It’s the only way to make relations resilient against the stresses of political polarization in the United States,” he said.

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