Cuban Foreign Minister Bruno Rodriguez Parilla will soon land in Havana with excellent news. His international tour in early November has had a multimillion dollar success. He will not have to break the news personally; the Mexican press reported it already: Mexico wrote off a debt of 340 million dollars lent to Cuba in 1998 .
That figure is 70 % of a loan originally granted by the National Foreign Trade Bank (Bancomext). And the good news does not end there: the island will have ten years to pay the 147 million still owed to Mexico.
How much is 340 million dollars to Cuba? For the sum of the writing off approximates the total value of imports from Vietnam, the main supplier of rice to Cuba .
The Mexican Finance Minister, Luis Videgaray , described the former debt as ” a financial problem with Cuba , a credit to the Cuban government granted by Bancomext and represents a debt of 487 million and as there has not been an agreement to pay . “
Videgaray said the clean slate eliminates a diplomatic problem. “It was important to address this situation, which was an obstacle for things to be well with the Cuban people.”
Bruno Rodriguez also brings in its portfolio eight cooperation agreements with Mexico, the largest economy geographically close to Cuba, after the United States. Besides saving a fortune to Cuba, it was possible to extend the Economic Complementation Agreement in force since 2001 and which regulates bilateral trade.
Mexico and Havana still have unfinished business in the near future. Mexican Foreign Minister Jose Antonio Meade spoke of the willingness of his country to “actively participate in the process of updating the economic model that exists in that country.”
The Mexican Economy Ministry spoke in a statement on “the interest of Mexican businessmen to expand their presence on the island through investments in sectors such as tourism, mining, industry, agribusiness, oil and renewable energy.”
The Cuban foreign minister traveled to Mexico in the company of the Minister of Foreign Trade and Investment, Rodrigo Malmierca. At the end of the agenda in Mexico, Rodriguez Parrilla went to China and Malmierca returned to Havana to participate in the International Trade Fair of Havana.
During his stay, Rodriguez Parilla received first class treatment: Enrique Peña Nieto President met with him in Los Pinos, the official residence of Mexican presidents.
