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Cuban state-run media has accused a popular independent news site of economic sabotage. 

This week, tensions escalated between Cuba’s government and El Toque, an online platform. According to state media, El Toque has been manipulating the exchange rate of the Cuban peso against the dollar, intensifying economic instability and unrest in the country. 

El Toque, which the Cuban state media claims to be secretly funded by the United States, reportedly sets a significantly higher dollar rate compared to the official rates established by the Cuban government. This accusation came from a piece in CubaDebate, a state media outlet, which branded the act as “financial terrorism.” The government has also indicated that El Toque’s actions aim to “incite” mass protests across the island.

In defense, El Toque argues that its currency tracker is crucial for providing reliable financial information to Cubans, especially amidst the rapid devaluation of the peso in 2024. According to the site, the peso has nearly halved in value against the dollar this year alone, worsening the already dire economic conditions marked by inflation and shortages. The website claims to use artificial intelligence to generate these rates, scanning online posts where buyers and sellers indicate their transaction prices.

Jose Jasan Nieves, the Miami-based editor-in-chief of El Toque, responded to the allegations, dismissing them as “ridiculous and implausible.” Nieves added, “The Communist Party has decided to convert our platform, elToque, into a scapegoat to justify its failure.”

As of 10:30 AM PDT, the US government has not responded to claims made by the Cuban government or state-affiliated media.