Cuba and creditors agree on debt restructuring (+Photos)

Cuba and the Paris Club agreed to modify their debt repayment agreements, a pact that offers the island better space to meet its commitments in the challenging economic scenario it faces.

A delegation led by Deputy Prime Minister Ricardo Cabrisas met here yesterday and this Friday with a representation of the 14 creditor countries, led by the President of the Paris Club, Bertrand Dumont, negotiations that culminated in the signing of an agreement.

The Cuban side outlined the complex situation that the Caribbean nation is dealing with, the factors that affect it and the ongoing actions to mitigate it.

In this regard, Cabrisas pointed to the impact of the economic, commercial and financial blockade that the United States has imposed on his country for more than six decades, a policy that has intensified in recent years, which is the main obstacle to its development.

In his speech, he thanked the creditors for their sensitivity in dealing with the issue, for their understanding of the issues explained and for the role played by the European Union in the negotiations, in particular by the host France.

It also reaffirmed Cuba’s willingness to honour its commitments and to make the necessary efforts in that direction.

It is now up to us to move forward in the shortest possible time in the signing of the bilateral agreements, he stressed.

Cuba’s group of creditors includes Australia, Austria, Belgium, Canada, Denmark, Finland, France, Italy, Japan, the Netherlands, Spain, Sweden, Switzerland and the United Kingdom.

At the end of the signing of the agreement to rearrange the payment of the island’s debt, which materialized with the popular Guantanamo Bay as the background, the Paris Club co-president William Roos made the conclusions of the meeting that took place in an atmosphere of respect and understanding.