http://havanajournal.com/business/entry/mexico-to-restructure-cuban-debt/

HavanaJournal.com: Cuba Business

Mexico to restructure Cuban debt

Posted February 18, 2008 by publisher in Cuba Business.
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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.

Member Comments

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On February 18, 2008, publisher wrote:

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

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On February 19, 2008, cubanpete wrote:

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.