In a Dutch oven on medium-high heat, add olive oil, thawed ground beef, and all dry spices; sauté for 6 to 8 minutes until ground beef is brown.
Using a slotted spoon, remove ground beef from the Dutch oven, reserving the fat.
Add onions, red bell pepper, and garlic, and sauté for 2 minutes. Add tomato paste and sauté for 30 seconds.
Add diced tomatoes and sauté for 2 minutes, then add chicken stock and bring to a boil.
Add back in browned ground beef, minced olives and Worcestershire sauce, reduce to medium heat, and cook for 15 minutes.
Add diced potatoes and cook for 20 minutes. The potatoes will be tender, and the picadillo will slightly thicken.
Stir in chopped cilantro and season to taste with salt and pepper if needed.
Serve over a bed of white rice.