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Posted November 19, 2008 by publisher in Cuba-World Trade

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By Jeff Franks | Reuters

Chinese President Hu Jintao agreed to put off some of Cuba’s debt payments and gave the island $80 million for hospital modernization and other projects during a visit on Tuesday to strengthen ties between the Communist-run countries.

His two-day stopover, which included a meeting with former leader Fidel Castro, deepened China’s already-substantial involvement in Cuba and provided aid for the island’s economy, battered by three hurricanes and the effects of the global economic crisis.

The two countries signed accords on Tuesday that put off for 10 years payments for an unspecified trade debt Cuba ran up through 1995, and for five years a $7.2 million credit China granted in 1998.

The two countries have not disclosed the full amount Cuba owes the Asian giant, but loans are starting to come due at a time when Cuba, which suffered $10 million from hurricanes Gustav, Ike and Paloma this year, could ill afford it.

The two countries had signed a dozen accords on Monday calling for, among other things, China to continue buying Cuban sugar and nickel and to provide agricultural products.

China is Cuba’s second largest trading partner after Venezuela at $2.3 billion in 2007. It buys 400,000 tons of sugar from the Caribbean country each year and close to half its annual output of 75,000 tons of nickel, which is Cuba’s top export.

President Raul Castro was in such good spirits on Tuesday that he led 200 Chinese students learning Spanish at a Cuban school in an impromptu sing-along of a Chinese song about late China leader Mao Zedong.

He said he learned the song from a Chinese delegate at a youth rights conference in Austria in 1953.

“I don’t have the memory that Fidel has, but I remember that song,” he said.

Hu and Fidel Castro held what China’s Xinhua news agency described as “a long conversation in a sincere and friendly atmosphere.”

“I see in person that you have recovered and have been energetic so I feel very pleased,” Hu was quoted as telling the 82-year-old Castro.

“Your thoughts and experience will surely guide the Cuban people to continue their march on the road of socialist construction,” Hu said.

(Xinhua Photo)

  1. Follow up post #1 added on November 19, 2008 by publisher with 3905 total posts

    Does Fidel look a little different to you?

    Me too.

    I posted a chronological photo posting of Fidel Castro over the past few years. See what you think.



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  2. Follow up post #2 added on November 19, 2008 by Lee

    He obviously can no longer care for himself. someone has to comb his hair. very poetic that in the end other people control his every move


  3. Follow up post #3 added on November 19, 2008 by publisher with 3905 total posts

    Good point.

    Also, notice that Fidel is not quoted as saying anything.

    I just added a couple more photos to that photo comparison post above.



    Cuba consulting services

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