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A Necessary “Rescue”

“A Necessary “Rescue” / Fernando Damaso #Cuba

Fernando Damaso, Translator: Unstated

In 1959, “the year of the ” as a friend of mine likes to call

it, there were any number of well-known people who had degrees in

business administration and public accounting. They practiced their

professions in different manufacturing and service companies and in

general their salaries provided them with a good standard of living.

Accounting was practiced universally throughout the country,

contributing to a healthy .

At some point “someone” determined that there was no need for all this,

and the system was dismantled. Overnight, business administrators,

bookkeepers and accountants either became nothing more than check

writers for nationalized companies and agricultural businesses, or had

to change professions if they wanted to to survive. In order to cut “the

evil” at its root, provincial business schools and accounting

departments were closed. With these measures, economic controls

disappeared since “under socialism they, as well as money, were no

longer necessary.” Life, however, stubbornly and amply demonstrates what

a big mistake this turned out to be. The country paid and continues to

pay the consequences, while those who were responsible have never

accepted responsibility or answered for their errors.

For some time now there has been a renewed emphasis on the importance of

economists and accountants. They even have their own organization—ANEC

(National Association of Economists and Accountants). One day, November

26, was inexplicably chosen, however, to be the day on which someone,

who knew nothing about economics or accounting much less banking,

assumed the presidency of the National Bank of Cuba. After reading about

the duties currently assigned to him, while ignoring the gray years as

if they had never happened, it seems like there will be a lot of them he

will surely find difficult to fulfill. Let’s see. He must contribute to

the implementation of the guidelines, design the theoretical foundations

of “the model,” develop courses for bookkeepers as well as courses for

entrepreneurs, provide advice to strengthen the work of accounting teams

and the control of resources, coordinate the preparation of economic

reports by directors, and develop a culture of economics, among other

things. In other words, try to rescue (one of the verbs most widely used

nowadays) all that was lost during the years of improvisation and failure.

It would be beneficial if he were successful, for the good of the nation

but also as a palpable demonstration that they never should have done

away with these economic activities. Although it is a bit late, it is

good to correct things.

December 1 2012

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December 2012
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