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Cuba complies with its commitment to pay debts to Western countries

View of La Habana street, Cuba, June 11, 2019. Photo: AFP / TTXVN

According to the Vietnam News Agency correspondent in La Habana, responding to the press on November 7 on the occasion of attending the La Habana International Fair (FIHAV) 2019, Cuban Vice Minister Ricardo Cabrisas confirmed that from 2015 to now, Cuba is securing debt payment efforts with great effort.

In August, Cuban officials also said that the US tightening embargo will make it difficult for the timely payment of debt to members of the Paris Club.

In 2015, Cuba reached a framework agreement with the Paris Club, in which the creditor countries agreed to delete US $ 8.5 billion of the total US $ 11.1 billion, including principal, interest and late payment penalties. since 1986. This agreement also sets the payment of debt divided into packages, annual payments to 2033, and a portion of this money is allocated to Cuban investments.

In October 2018, the Cuban Government paid nearly US $ 70 million and under the agreement, La Habana must disburse about US $ 80 million before October 31, 2019.

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