Cuba Business News and Information
AFP
Mexico has struck a deal with Cuba on restructuring a 400-million dollar debt owed by the communist island nation, banking officials said Sunday.
“The signing of an agreement to restructure the debt ... is a major step toward the normalization of commercial and financial relations between both countries,” read a statement by the Banco de Comercio Exterior de Mexico (Bancomext) Sunday.
Financial ties between the two countries have been strained over the past six years because of a rift over Cuba’s debt, but the new agreement allows them to “restore their historic level of economic collaboration,” Bancomext said.
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Another gift to Fidel. Shame on the Cuban government. Why would any country loan Cuba money?
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Cuba’s economic problems are not due to the American embargo. The problem is that the Castro regime is a deadbeat credit risk, which is why even its so-called “convertible” currency (chavitos) are not traded in any bank outside Cuba, including such Communist nations as Red China.
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