MIAMI, United States. – The Foreign Bank of Cuba and the EximBank of India signed an agreement on Monday thanks to which the Havana regime will have a line of credit worth 100 million euros, according to the state agency. Latin Press.
The agreement was approved by Cuban Deputy Prime Minister Ricardo Cabrisas Ruiz and by the Asian country’s Deputy Foreign Minister, Saurabh Kumar.
According to Prensa Latina, “both officials agreed on the broad prospects for the growth of bilateral relations, despite the complex situation facing the world economy.”
At the meeting, Cabrisas Ruiz referred to the “role that India can play in the development of sectors such as renewable energy sources, agriculture and biotechnology”.
Meanwhile, the president of the Banco Exterior de Cuba, Ernesto Medina, and the ambassador of the Asian country on the island, Sarvesvaran Janakiraman, on behalf of the director of EximBank, Nirmit Ved, signed the financial agreement between the two countries.
India apparently did not take into account Cuba’s delays in paying its debts to its lenders.
In the middle of this month, the Cuban government ratified its “commitment” to fulfill the financial obligations contracted with the Paris Club, according to a note published by Cubaminrex and reproduced by official means of the Island.
In 2015, the Cuban regime signed a historic agreement with the Paris Club, which forgave it $8.5 billion of a total debt of $11 billion and undertook to pay the remaining amount in installments until 2023.
Even so, Havana partially failed to comply with its obligations in 2019, and in 2020, when it declared itself unable to meet the corresponding payment and requested a two-year moratorium for a total of some 200 million in overdue payments to the Paris Club.
The meeting of Cabrisas with the representatives of the Paris Club, in the middle of this month, it happened three days after the Russian president, Vladimir Putin, signed a law that ratifies the postponement of the payment of the debt contracted by Cuba with Moscow.
Between 2006 and 2019, Russia granted around 2.3 billion dollars of state credits to the Island regime.
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