Cuba Accuses US-Funded Outlet El Toque of 'Financial Terrorism' Amid Economic Crisis

Cuban Government Levels 'Financial Terrorism' Accusations

The Cuban government has launched a strong accusation against the US-funded media outlet El Toque, alleging its involvement in 'financial terrorism' and 'economic warfare' aimed at destabilizing the nation's economy. The accusations, made around November 13-14, 2025, center on El Toque's role in publishing the informal exchange rate for the Cuban peso (CUP) against foreign currencies, which Havana claims is manipulated to foment unrest.

Cuban officials, including Foreign Minister Bruno Rodríguez Parrilla and television presenter Humberto López, have stated that El Toque is deliberately influencing the informal currency market. López, speaking on the government program Razones de Cuba, directly accused El Toque of 'depressing the income level of the Cuban population' and suggested the possibility of legal action, including criminal proceedings for 'financial terrorism' and potentially listing the outlet as an entity 'linked to terrorism'.

El Toque's Role and Alleged US Funding

El Toque is an independent media outlet that provides real-time tracking of the informal exchange rate for the Cuban peso against the US dollar, euro, and Moneda Libremente Convertible (MLC). The Cuban government has cited publicly available documents in the United States to assert that El Toque and its editor-in-chief, Jose Jasan Nieves, have received US funding.

Havana alleges that this funding is part of a broader strategy to destabilize Cuba, linking El Toque to an 'unconventional warfare strategy,' a 'currency trafficking scheme,' and 'tax evasion.' Prime Minister Manuel Marrero Cruz also condemned the platform, stating it has become 'an actor profoundly harmful to the national economy' and is part of an organized scheme of illegal currency trafficking and fiscal evasion directed 'from and for the government of the United States.'

El Toque and US State Department Respond

In response to the allegations, Jose Jasan Nieves, editor-in-chief of El Toque, acknowledged receiving grants from the US State Department. He clarified that these grants are intended 'to promote access to information in Cuba and to support the US embassy in Havana in implementing public diplomacy programs.' However, Nieves firmly denied that this funding influences El Toque's editorial line, stating that the outlet also receives financial support from private donors, companies, foundations, and entities in Europe. He rejected claims of 'subversive' intentions or promoting mercenary or terrorism-related activities.

El Toque has responded to the Cuban government's campaign with irony and arguments, suggesting that blaming them for the currency's depreciation is akin to blaming a lab test for a sickness. A spokesperson for the US State Department dismissed Cuba's accusations as 'absurd,' characterizing them as an attempt by the Cuban government 'to deflect from its incompetence and failed economic policies.'

Context of Cuba's Informal Exchange Rate

The informal currency market in Cuba has a long history but gained significant prominence after monetary reforms in early 2021. The official exchange rate, such as 120 CUP to 1 USD, starkly contrasts with the informal market rate, which was reported at approximately 460 CUP to 1 USD as of November 13, 2025.

This informal rate is a critical factor for many Cubans seeking to acquire essential goods and services due to the country's ongoing economic challenges, high inflation, and a state-controlled economy. Independent observers often attribute Cuba's economic woes to a combination of factors, including a decades-long US trade embargo, economic mismanagement, and an unrealistic official exchange rate.