Tarea Ordenamiento

Tarea Ordenamiento (Task Order) was Cuba's January 2021 economic reform package, centred on the elimination of the dual-currency system that had divided Cuba's economy into a peso (CUP) sector and a convertible peso (CUC) sector since the 1990s. The reform abolished the CUC, set a single official CUP exchange rate, and removed most price subsidies. It was the most significant structural economic intervention since the Special Period of the 1990s and was intended to rationalise wage and price signals across the Cuban economy.

Tarea Ordenamiento failed within months of implementation. The official exchange rate of 24 CUP to the US dollar rapidly diverged from an informal market that priced the dollar FAR higher, as the supply conditions required to make the new rate credible, sufficient goods, stable import channels, hard-currency inflows, were not present. The resulting inflation was severe, with price rises of several hundred percent in basic goods over 2021. The episode entrenched an informal market that today runs at 670 pesos per dollar against an official rate of 555 .

The June 2026 reform's commitment to "successive devaluations" of the official rate toward the informal level is directly shaped by the Tarea Ordenamiento experience. Rather than announcing a single new unified rate, as in 2021, Havana has chosen a managed step-down approach. Analysts including economist Pedro Monreal have noted that this avoids the 2021 shock but risks a different failure mode: a managed rate that moves slower than an informal market driven by the same structural shortages .