{"id":213928,"date":"2020-02-16T15:40:45","date_gmt":"2020-02-16T20:40:45","guid":{"rendered":"https:\/\/oncubanews.com\/en\/?p=213928"},"modified":"2020-02-16T15:40:45","modified_gmt":"2020-02-16T20:40:45","slug":"cuba-promises-to-pay-its-overdue-debts-with-the-paris-club","status":"publish","type":"post","link":"https:\/\/oncubanews.com\/en\/cuba\/economy\/cuba-promises-to-pay-its-overdue-debts-with-the-paris-club\/","title":{"rendered":"Cuba promises to pay its overdue debts with the Paris Club"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The Cuban government promised, through an official letter to the president of the Paris Club, that it will pay its 2019 debts at the latest in May with the countries of that group, <\/span><a href=\"https:\/\/www.prensa-latina.cu\/index.php?o=rn&amp;id=342451&amp;SEO=cuba-cumplira-compromisos-con-el-club-de-paris-asegura-carta-oficial\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">Prensa Latina (PL)<\/span><\/a><span style=\"font-weight: 400;\"> news agency reported.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to <em>PL<\/em>, which quotes the <em>Agence France-Presse (AFP)<\/em> news agency, Cuban Deputy Prime Minister Ricardo Cabrisas was in charge of sending the official statement to Renaud-Basso, general director of the French Treasury and president of the Paris Club.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The countries affected by defaults are Austria, Belgium, the United Kingdom, Japan, France and Spain, to which the island had to reimburse between 32 and 33 million euros, out of a total of 82 million owed to 14 creditors in 2019, according to a diplomatic source cited by <\/span><em><a href=\"https:\/\/www.afp.com\/es\/noticias\/3956\/cuba-promete-pagar-antes-de-fin-de-mayo-sus-deudas-atrasadas-doc-1p02gh2\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight: 400;\">AFP<\/span><\/a><\/em><span style=\"font-weight: 400;\">.<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"VtCJ3NW4Vq\"><p><a href=\"https:\/\/oncubanews.com\/cuba\/economia\/empresariado-espanol-confia-en-que-cuba-pagara-su-deuda-de-300-millones-de-euros\/\">Empresariado espa\u00f1ol conf\u00eda en que Cuba pagar\u00e1 su deuda de 300 millones de euros<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u00abEmpresariado espa\u00f1ol conf\u00eda en que Cuba pagar\u00e1 su deuda de 300 millones de euros\u00bb \u2014 OnCubaNews\" src=\"https:\/\/oncubanews.com\/cuba\/economia\/empresariado-espanol-confia-en-que-cuba-pagara-su-deuda-de-300-millones-de-euros\/embed\/#?secret=vW5cRAUKMY#?secret=VtCJ3NW4Vq\" data-secret=\"VtCJ3NW4Vq\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">In the letter, Cabrisas recalled that during his visit to Paris in January he explained to the creditors the impossibility of paying on time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The deputy prime minister explained in \u201cexhaustive\u201d way the circumstances that determined that Cuba cannot honor its commitments with some countries, as agreed in the multilateral Minute signed by the parties in December 2015, a fact that was reported in several media in recent days.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Cuban authorities affirm in the letter that they are \u201caware of the importance of preserving these agreements,\u201d for which the members of the Paris Club wrote off 8.5 of the 11 billion euros that the island owes to the 14 countries, with a gradual reimbursement until 2033.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">President Miguel D\u00edaz-Canel and other leaders have recognized the liquidity problems that Cuba suffers, especially as a result of the embargo and the new U.S. sanctions that seek to further affect the island\u2019s economy, in retaliation for Cuba\u2019s support to the government of Venezuelan President Nicol\u00e1s Maduro.<\/span><\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"cffHpGyi3z\"><p><a href=\"https:\/\/oncubanews.com\/cuba\/medvedev-ahora-nuestros-amigos-cubanos-pagan-la-deuda\/\">Medv\u00e9dev: ahora \u201cnuestros amigos cubanos pagan la deuda\u201d<\/a><\/p><\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"\u00abMedv\u00e9dev: ahora \u201cnuestros amigos cubanos pagan la deuda\u201d\u00bb \u2014 OnCubaNews\" src=\"https:\/\/oncubanews.com\/cuba\/medvedev-ahora-nuestros-amigos-cubanos-pagan-la-deuda\/embed\/#?secret=y1RBQ9kLj8#?secret=cffHpGyi3z\" data-secret=\"cffHpGyi3z\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">According to <em>AFP<\/em>, in this context Cuba needs more than ever the support of the European Union, which in recent years has become its main investor and first commercial partner, with more than 3.470 billion dollars\u2019 worth of trade in 2018.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, the Cuban government has strengthened its collaboration with Russia and China, at a time when its main ally in Latin America, Venezuela, also faces a difficult economic situation and is subject to sanctions by the United States.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Cuban government promised, through an official letter to the president of the Paris Club, that it will pay its 2019 debts at the latest in May with the countries of that group, Prensa Latina (PL) news agency reported. According to PL, which quotes the Agence France-Presse (AFP) news agency, Cuban Deputy Prime Minister Ricardo [&hellip;]<\/p>\n","protected":false},"author":3134,"featured_media":213929,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[13903],"tags":[14816,6448],"ppma_author":[33546,8689],"class_list":["post-213928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-cuban-economy","tag-european-union-eu"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cuba promises to pay its overdue debts with the Paris Club | OnCubaNews English<\/title>\n<meta name=\"description\" content=\"The countries affected by defaults are Austria, Belgium, the United Kingdom, Japan, France and Spain, to which the island had to reimburse between 32 and 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