Herzfeld Caribbean Basin Fund Inc (CUBA): Cuba begins to repay debts to Western cr...

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Re: Myth post# 815

Friday, 10/28/2016 7:57:11 PM

Friday, October 28, 2016 7:57:11 PM

Cuba begins to repay debts to Western creditors ahead of time

Cuba has paid ahead of schedule the first installment of a renegotiated $2.6 billion debt (273 billion yen) to 14 wealthy governments, according to diplomats from a number of the countries, as the Communist-run island seeks to overcome its chronic payment history.

Cuba reached a deal in December with members of Paris Club of creditor nations that forgave $8.5 billion of $11.1 billion official debt it had defaulted on through 1986, plus charges. Repayment of the remaining debt was structured over 18 years, and the first payment of about $40 million was due by Oct. 31.

http://www.asahi.com/ajw/articles/AJ201610280029.html

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