In a recent development, independent media outlet elTOQUE has pushed back against accusations made by Sandro Castro, who claimed that the platform artificially inflates the dollar exchange rate in Cuba’s informal market for financial gain.
In a social media video, Castro, a businessman and influencer, launched a fierce attack on the team behind the site, which has established itself over the years as a key source for monitoring currency exchange trends on the island.
Castro alleged that elTOQUE is a “shadowy elite” that seeks enrichment at the expense of ordinary Cubans, rather than providing support. He accused the media outlet of manipulating the prices of currencies like the dollar and euro, employing a pattern of “inflation” and “repurchase” to secure profits.
Nonetheless, elTOQUE swiftly countered these claims. The outlet dismantled the arguments put forth by Fidel Castro’s grandson, labeling them as a political and rhetorical manipulation strategy aimed at diverting attention from the true players in Cuba’s black market for currency.
In their public retort, elTOQUE made clear that they do not engage in market activities, either to benefit or harm the informal sector, but instead aim to report on its dynamics with statistical accuracy. “The recent movements in the informal market’s exchange rate are simply a reflection of the real-time market data we track, both up and down,” they clarified.
Furthermore, elTOQUE redirected attention towards another group of interest: Cuban entrepreneurs, including Sandro Castro himself. According to the platform, “Sandro Castro and other Cuban entrepreneurs wish to promote their own reference rate, claiming it to be fairer, yet they fail to acknowledge that many of these entrepreneurs are key players in the illegal currency market.”
Addressing the elite’s lack of transparency, elTOQUE emphasized their commitment to open discourse. “We are individuals who, unlike many within the actual Cuban elite, present ourselves openly, striving to provide data and explanations that even the most inexperienced party official cannot offer,” a member of the editorial team stated.
The digital outlet contends that it not only documents the market but also bears the real costs of practicing independent journalism under a dictatorship. “The greatest pressure comes from doing journalism in Cuba,” elTOQUE highlighted, citing the harsh repression from state security and Communist Party propaganda apparatus faced by independent journalists.
In response to Sandro Castro’s attack, elTOQUE invoked historical context, reminding the public of the Castro family’s longstanding ties to political and economic power in Cuba. “The narrative of an elite that manipulates and exploits while pretending to be hardworking is not our story—it’s the story of Sandro Castro, his grandfather, and the gerontocracy that supported their hold on power,” they stated.
As an illustrative example, they recalled Fidel Castro’s claim to Ignacio Ramonet that his monthly salary was $30, sufficient for his needs, including party dues. They also cited José Ramón Machado Ventura, who purportedly never worried about his salary, implying the privilege of not relying on it.
ElTOQUE’s concluding message to Cubans was a cautionary one: “Choose wisely what to believe, because not all wolves in sheep’s clothing can be trusted to protect the flock.”
A Deeper Conflict Unveiled
The confrontation between elTOQUE and Sandro Castro transcends a mere dispute over the dollar rate; it symbolizes a clash between two Cubas. One Cuba is committed to documenting, analyzing, and exposing; the other, rooted in inherited power, seeks to reshape the narrative to maintain its influence amid chaos.
As the nation’s economic crisis intensifies—with inflation, shortages, and a depreciating currency—Cubans continue to grapple with the fallout of failed economic policies, alongside the discursive tensions between those striving to inform and those attempting to control the narrative.
ElTOQUE maintains its stance: it will continue publishing reference rates based on factual data while enduring the pressures of practicing journalism in a country where independent reporting remains a risky endeavor.
Understanding the Currency Dispute in Cuba
What accusations did Sandro Castro make against elTOQUE?
Sandro Castro accused elTOQUE of artificially inflating the dollar exchange rate in Cuba’s informal market to benefit financially, labeling them as a shadowy elite seeking enrichment rather than helping the public.
How did elTOQUE respond to the allegations?
elTOQUE refuted the accusations, asserting that they do not engage in market activities but rather report on market dynamics with statistical accuracy. They highlighted the true players in the black market and emphasized their commitment to independent journalism.
What is the significance of the conflict between elTOQUE and Sandro Castro?
The conflict represents a symbolic struggle between two Cubas: one that is focused on transparency and accountability, and another that seeks to maintain control and influence through inherited power.
