Search results for: Paris Club

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, 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, Havana, January 28, 2021 — It appears that economic reforms recently enacted by the Cuban government will not be enough to satisfy its creditors. Several Western diplomats and businesspeople believe that it will have to devalue and deregulate more if it wants to revive a bankrupt economy, obtain credit or pay its debts. The experts, members … Continue reading “The Paris Club Advises Cuba to Devalue the Peso”

14ymedio, Havana, 21 May 2020 — The Cuban government has asked its Paris Club creditors to suspend payment of their debt until 2022, according to France Presse. Havana, according to sources cited by the agency, made the request through a letter addressed to the 14 countries that make up the group, asking for “a moratorium for 2019, 2020 … Continue reading “Cuba Asks the Paris Club to Suspend its Debt Payment for Two Years”

14ymedio, Havana, 30 May 2023 — The denunciation of numerous intellectuals against Nancy Morejón — headed by the Cuban Jacobo Machover — has achieved its objective: the organizers of the Paris Poetry Market, a prestigious literary event held annually since 1983 in the French capital, will withdraw the official writer’s status as honorary president, although she will continue … Continue reading “Cuban Writer Nancy Morejon Withdraws as Honorary President of the Poetry Festival in Paris”

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, 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”