Cuba alleged on Thursday (13) that El Toque, an independent website that publishes the daily rate of the dollar on the parallel market, is manipulating the unofficial exchange rate to spark unrest at a time when the devaluation of the peso is causing prices on the island to rise.
Cuba described the exchange rate calculated and published in real time by ElTalk as a “farce.” Interest rates have fluctuated wildly in recent weeks, but are once again near all-time highs, wiping out the purchasing power of most Cubans in an economy that is rapidly dollarizing.
The Cuban government cited publicly available documents in the United States to claim that El Toque and its editor-in-chief, José Gasan Nieves, received US funding and claimed that they “benefited from the destabilization of Cuba.”
Gasan Nieves told Reuters in a written response that Altok receives grants from the US State Department “to enhance access to information in Cuba and to support the US Embassy in Havana in implementing public diplomacy programs.”
But he denied that the funding had any impact on the vehicle’s publications, noting that the site also receives funding from private donors, companies, foundations and entities in Europe.
“None of these relationships impact our editorial line,” Goshen said.
He rejected Cuba’s claims that the group had “subversive” intentions or promoted mercenary or terrorism-related activities.
A US State Department spokesman said that Cuba’s claims were “ridiculous,” stressing that the island’s government “seeks to divert attention from its incompetence and failed economic policies.”
Independent observers say Cuba’s economic problems stem from a decades-long US trade embargo, mismanagement of the state-run economy, and an unrealistic official exchange rate.
The Donald Trump administration has expressed concerns about US media funding this year and has cut funding to several Cuban media outlets. Al-Tawq said in March that 50% of its 2025 budget was affected by these cuts and asked readers for donations.
Some US funding for Cuban-linked media was later restored.
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