Cuba opens real estate sector to foreigners as US pressure deepens economic crisis

Cuba has opened its real estate sector to foreign investment as part of a sweeping package of economic reforms aimed at tackling a severe crisis and attracting private capital.The reforms, announced by the communist government in June, began taking effect this week through a series of decrees, resolutions and regulations. They come as Cuba struggles with shortages and an economic downturn following months of a US fuel blockade.Under the changes, foreign investors can now invest in Cuban real estate, marking a significant shift for an economy where the state has traditionally played a dominant role, reported AFP.The reforms also allow privately owned Cuban companies to work directly with foreign investors, hold accounts in overseas banks and import and export goods without going through government intermediaries.Previously, most foreign investors were required to form joint…