The Government of Cuba ratified before its main creditors in the Paris Club its commitment to comply with the contracted financial obligationsofficial media on the island reported this Tuesday.
Cuba reiterated its position in a routine meeting in the French capital with representatives of the 14 creditor countries that are members of the group, in which the progress of the reorganization of debt payments agreed upon a year ago was evaluated.
Deputy Prime Minister Ricardo Cabrisas Ruíz held a meeting with the president of the Paris Club and director general of the French Treasury, Emmanuel Moulin.
During the meeting, they exchanged on the progress of bilateral relations.?https://t.co/ee8MgoAmXV pic.twitter.com/xw9Bzp4gir
— Cuban Foreign Ministry (@CubaMINREX) June 14, 2022
The Cuban delegation was headed by Deputy Prime Minister Ricardo Cabrisas, the country’s main foreign debt negotiator, who on the eve of the meeting with creditors had a bilateral meeting with Emmanuel Moulin, director general of the French Treasury and president of the Paris Club.
According to the state agency Latin PressIn this meeting, the bilateral relationship between France and Cuba was also addressed.
In 2015, Cuba signed a historic agreement with the Paris Club, which forgave 8.5 billion dollars of a total debt of 11 billion with the commitment to pay the remaining amount in installments until 2023.
The Caribbean country partially failed to meet its obligations in 2019 and in 2020, in the midst of the economic crisis, declared itself unable to meet the corresponding payment. For this reason, he requested a two-year moratorium for a total of some 200 million in overdue payments from the Paris Club, which accepted only one year with the possibility of renegotiating.
Cuba and the Paris Club postponed the payment of the 2021 debt, according to diplomats
Tuesday’s annual meeting will take place three days after Russian President Vladimir Putin sign a law that ratifies the postponement of the payment of the debt contracted by Cuba with Moscow.
Between 2006 and 2019, Russia granted around 2,300 million dollars of state credits to the Island.
