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Posted February 18, 2008 by publisher in Cuba-World Trade

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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.

  1. Follow up post #1 added on February 18, 2008 by publisher with 3905 total posts

    Another gift to Fidel. Shame on the Cuban government. Why would any country loan Cuba money?

    Cuba consulting services

  2. Follow up post #2 added on February 19, 2008 by cubanpete with 127 total posts

    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.

    For change (cambio) we can believe in.

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