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On July 31, 2006 the Castro regime announced a "temporary" transfer of power from Fidel Castro to his brother Raul, who until that time served as head of the Cuban armed forces and second-in-command of the government and the Communist Party. It was the first time in the 47 years of Fidel Castro’s rule that power had been transferred. The transfer took place due to intestinal surgery of an undetermined nature.
On July 31, 2006 the Castro regime announced a "temporary" transfer of power from Fidel Castro to his brother Raul, who until that time served as head of the Cuban armed forces and second-in-command of the government and the Communist Party. It was the first time in the 47 years of Fidel Castro’s rule that power had been transferred. The transfer took place due to intestinal surgery of an undetermined nature.
On February 19, 2008, Fidel Castro announced that he would officially step down as leader of Cuba. Five days later, on February 24, Raul Castro, Fidel's brother, was elected the new President of Cuba. In his acceptance speech, Raul Castro promised that some of the restrictions that limit Cubans' daily lives would be removed; according to an official memo, a ban on the purchase of computers, DVD players and microwaves is to be lifted.
===Foreign Relations===
===Foreign Relations===
A series of recent economic agreements between Cuba and China have strengthened trade between the two countries. Sino-Cuban trade totaled more than $525 million in 2004, according to China Customs statistics. This represents an increase of more than 47% over 2003. Most of China’s aid involves in-kind supply of goods or technical assistance. During President Hu-Jintao’s visit to Cuba in November 2004, China signed investment-related memorandums of understanding (MOUs) estimated at more than $500 million, according to press reports. If these MOUs are fully realized, they would represent a sharp increase in known Chinese investments in Cuba. In addition to these MOUs, a number of commercial accords were signed at the first-ever Cuba-China Investment and Trade Forum. China also plans to invest approximately $500 million in a nickel operation in Moa in the eastern province of Holguin. According to the MOU, Cuba will own 51% of the enterprise and Chinese-owned Minmetals the remaining 49%. Chinese and Venezuelan economic support, including investment and direct aid, have given Cuba the space to eliminate many of the tentative open market reforms Cuba put in place during the depth of its mid-1990s economic crisis.
A series of recent economic agreements between Cuba and China have strengthened trade between the two countries. Sino-Cuban trade totaled more than $525 million in 2004, according to China Customs statistics. This represents an increase of more than 47% over 2003. Most of China’s aid involves in-kind supply of goods or technical assistance. During President Hu-Jintao’s visit to Cuba in November 2004, China signed investment-related memorandums of understanding (MOUs) estimated at more than $500 million, according to press reports. If these MOUs are fully realized, they would represent a sharp increase in known Chinese investments in Cuba. In addition to these MOUs, a number of commercial accords were signed at the first-ever Cuba-China Investment and Trade Forum. China also plans to invest approximately $500 million in a nickel operation in Moa in the eastern province of Holguin. According to the MOU, Cuba will own 51% of the enterprise and Chinese-owned Minmetals the remaining 49%. Chinese and Venezuelan economic support, including investment and direct aid, have given Cuba the space to eliminate many of the tentative open market reforms Cuba put in place during the depth of its mid-1990s economic crisis.
The Russian prime minister visited Cuba in October 2006, signaling a new effort to expand trade and investment, albeit financed by Russian credit. Russia set aside, for the moment, more than USD 20 billion in Soviet-era debt, restructured post-1991 debt, and extended a new credit line to Cuba. The new credit line is for USD 355 million repayable over 10 years at an interest rate of five percent. The new credit is conditioned in that it must be used to purchase Russian cars, trucks, planes, as well as to finance Cuban energy and transport infrastructure projects, including air navigation systems. Russia further agreed to restructure USD 166 million in debt accumulated since 1993. Both nations also signed an agreement on military equipment and technical services.
The Russian prime minister visited Cuba in October 2006, signaling a new effort to expand trade and investment, albeit financed by Russian credit. Russia set aside, for the moment, more than USD 20 billion in Soviet-era debt, restructured post-1991 debt, and extended a new credit line to Cuba. The new credit line is for USD 355 million repayable over 10 years at an interest rate of five percent. The new credit is conditioned in that it must be used to purchase Russian cars, trucks, planes, as well as to finance Cuban energy and transport infrastructure projects, including air navigation systems. Russia further agreed to restructure USD 166 million in debt accumulated since 1993. Both nations also signed an agreement on military equipment and technical services.
==Defense==
==Defense==