English Translations of Cubans Writing From the Island
14ymedio, Madrid, 27 April 2021 — CRF I Ltd., the London Club’s main creditor of Cuban debt investment fund, has offered the Government of Miguel Díaz-Canel to convert 1.4 billion dollars of the securities Cuba owes into a zero coupon bond with no payments until 2026, an offer that would allow Cuba to return to international … Continue reading “The London Club Offers the Cuban Government a Lifeline with Debt Relief”
14ymedio, (with information from agencies), Havana, 13 February 2018 — The London Club, a powerful group that offers commercial credit to Cuba, offered the Government of Raul Castro “significant debt relief,” according to the Club’s coordinator Rodrigo Olivares-Caminal, speaking to Reuters. The London Club represents three investment funds (Stancroft Trust, Adelante Exotic and CRF) and a commercial bank to … Continue reading “London Club Offers Cuba "Significant Debt Relief"”
14ymedio, Madrid, 31 August 2023 — The future of Cuba’s 4.827 billion dollar debt with its Paris Club creditors is at stake today in Havana. According to the official press, William Roos, co-president of the institution, proposed establishing a new calendar in accordance with Cuba’s ability to pay after expressing that “there is understanding towards … Continue reading “Cuba’s Umpteenth Negotiation With the Paris Club for Non-Payments, Meanwhile Luxury Hotels Multiply”
14ymedio, Havana, 6 April 2023 — The Banco Nacional de Cuba (BNC) will appeal the sentence of the Superior Court of Justice of London which, on Tuesday, ruled in favor of the investment fund CRF I Limited by recognizing its rights to a debt of 72 million euros contracted by the Island. Although judge Sara Cockerill granted a small technical … Continue reading “Cuba’s National Bank Will Appeal the British Judgment on the Debt”
14ymedio, Madrid, 4 April 2023 — The High Court of Justice in London ruled on Tuesday in favor of the investment fund CRF I Limited by recognizing its rights to a debt of 72 million euros contracted by the Island, although it has released the Cuban State from its direct responsibility. Judge Sara Cockerill has … Continue reading “Cuban Regime Disguises as a Victory its Defeat in the London Trial for the National Bank of Cuba Debt”
EFE (via 14ymedio), London, February 3, 2023 — The trial in London of the claim for non-payment of the CRF I investment fund to the National Bank of Cuba (BNC) and the Republic of Cuba for 72 million euros (78 million dollars) of public debt went to trial on Thursday. 1. What will be decided … Continue reading “The Trial on Cuba’s Sovereign Debt in London, in Five Questions”
EFE (via 14ymedio), London, 25 January 2023 — During the trial in London on Wednesday, the president of the Central Bank of Cuba (BNC), Joscelín Río Álvarez, said that the CRF investment fund “did not legally acquire the Cuban debt,” according to the country’s legislation and does not appear on the institution’s registers. As a … Continue reading “President of the Central Bank of Cuba Insists that the Lender CRF Did Not ‘Legally’ Acquire Cuba’s Debt”
14ymedio, Havana, 21 October 2021 — Cuba will not have make a debt payment to the Paris Club until next year, according to the British agency Reuters. The document signed between the parties in June represents a new moratorium for the Government of Havana by postponing until 2022 the resumption of debt payment, whose arrears … Continue reading “Cuba Postpones its Paris Club Debt Payment to 2022”
14ymedio, Madrid, 4 September 2023 — The Argentine president, Alberto Fernández, will travel to Cuba for the G-77 plus China Summit, which will be held on September 15 and 16, with a proposal for the Cuban authorities to solve the historic debt that the Island has with the South American country. According to La Política … Continue reading “Argentina Will Make a New Attempt To Collect the 2.8 Billion Dollars Owed by Cuba”
EFE/14ymedio, London, 1 February 2023 — The National Bank of Cuba (BNC) and the Republic of Cuba have begun their final arguments this Wednesday in the trial in London against the CRF investment fund to settle the ownership of the 72 million euro sovereign debt that it claims. Attorney Alison Macdonald has refuted one by … Continue reading “The Cuban Regime’s Defense Begins its Final Arguments Against the CRF Investment Fund”
14ymedio, Luis Zúñiga, Miami, 5 February 2022 — On June 5, 1960, Fidel Castro ordered the nationalization of the Texaco company’s oil refinery in Cuba. The following month, on July 5, he ordered the seizure of the two remaining US refineries, Shell and Esso. Castro let the owners know that there would be no monetary … Continue reading “The True History of the United States Trade Embargo on Cuba”
Elias Amor Bravo, Economist, 22 April 2021 — Bad. Very bad. The first international speech from Miguel Díaz-Canel, from his new position of First Secretary of the Communist Party, as well as president of Cuba, at the forum of the Ibero-American Summit of Heads of State and Government, on April 21, 2021, held in Andorra. … Continue reading “Diaz-Canel at the Ibero-American Summit: The Failure of a Speech”
14ymedio, Havana, 24 February 2020 – Cuba was to reimburse its creditors of the Paris Club between 32 and 33 million dollars last year, of the total of 82 million dollars owed, according to the information provided to Agance France-Presse by diplomatic sources. The irritation of the creditors is evident in the statements made to AFP by … Continue reading “Creditors Grow Impatient with Cuba’s Nonpayments”
14ymedio, Luis Tornes Aguililla, Bordeaux, 16 April 2018 — As we already know what is going happen, it matters not if the date of this article is earlier than the date of the appointment of el señor presidente. Miguel Diaz-Canel already knows that he was handpicked and perhaps suspects, because he has no other choice, … Continue reading “Handpicked”
