The Paris Club Must Stop Financing the Repression in Cuba

14ymedio, Luis Zúñiga, Miami, 22 November 2021 — The Cuban regime faces a very delicate and dangerous situation to maintain itself in power. On the one hand, the July 11 protests, in more than 40 cities and towns, showed the disgust of the population, which is living under the longest dictatorship in the Western Hemisphere, as … Continue reading “The Paris Club Must Stop Financing the Repression in Cuba”

Cuba Postpones its Paris Club Debt Payment to 2022

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”

The Paris Club Advises Cuba to Devalue the Peso

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”

Cuba Asks the Paris Club to Suspend its Debt Payment for Two Years

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”

The London Club Offers the Cuban Government a Lifeline with Debt Relief

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”

London Club Offers Cuba "Significant 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"”

Paris, June 4: Tribute to Imprisoned Writers / Angel Santiesteban

Editor’s note: This post is in French and is only partially translated here. Text of notice:In solidarity with the imprisoned Chinese writer Li Bifeng, the International Literary Festival of Berlin is calling on intellectuals and artists, schools and universities, media, theaters and other cultural institutions around the world to organize readings, June 4, 2013, on … Continue reading “Paris, June 4: Tribute to Imprisoned Writers / Angel Santiesteban”

Cuba Does Not Pay its Debts and Asks for Financing at the Ibero-American Summit

14ymedio, Madrid, 21 April 2021 — Today the Cuban government cannot meet the agreements to pay its foreign debt that it reached with its creditors after the thaw started in 2014 by then-US President Barack Obama. The conclusion reached by Bloomberg is final. A note published by the Bloomberg this Wednesday insists that the market for commercial loans received by the island … Continue reading “Cuba Does Not Pay its Debts and Asks for Financing at the Ibero-American Summit”

Currency Unification Status: One Month Out

Elías Amor Bravo, Economist, January 30, 2021 — January is coming to an end and we still know little about the effects of the government’s currency unification program. Recent official press coverage of a nation-wide tour by senior government officials has provided some loose, unrelated bits of information but not a comprehensive, accurate and competent … Continue reading “Currency Unification Status: One Month Out”

Cuba’s Slow Collapse, a Country that is Running out of Food

Among the shelves of the Frutas Selectas Food Stand in Holguín there are photographs of the revolutionaries Camilo Cienfuegos and Ernesto Che Guevara, as well as a large poster with the slogan of this State company: “Selected Fruits: the most select from the tropics.” What is missing is fruit for sale. Frutas Selectas is a … Continue reading “Cuba’s Slow Collapse, a Country that is Running out of Food”

To Change of Not to Change in Cuba: That is the Question / Jeovany Jimenez Vega

Jeovany Jimenez Vega, 19 July 2020 — Anyone unfamiliar with the endless capacity for pretence and cynicism on the part of the Castro dictatorship, could perhaps see in the recent words of the latest occupant of the Finca Biran (Fidel Castro’s birthplace) a sincere call for reform. When Diaz-Canel, in an admirable fit of sincerity, accepts publicly … Continue reading “To Change of Not to Change in Cuba: That is the Question / Jeovany Jimenez Vega”

Creditors Grow Impatient with Cuba’s Nonpayments

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”

King Felipe VI: A Brave and Democratic Speech in Cuba

14ymedio, Elías Amor Bravo, Economist, 14 November 2019 — It is possible that some think he should have gone further. It is an equally respectable position. But there is no doubt that the Spanish King Felipe VI has risen to the circumstances, and in his dinner speech before Cuba’s communist president Miguel Díaz-Canel, he offered a brave defense … Continue reading “King Felipe VI: A Brave and Democratic Speech in Cuba”

Change and Continuity in Cuba

14ymedio, Carmelo Mesa-Lago, Pittsburgh, April 9, 2019 — The 60th anniversary of the Cuban Revolution is an opportune time to examine how things have changed and how things remain the same in the intervening years. The country’s market economy lasted until 1958 but, by 1961, had been transformed into a centrally planned economy overwhelmingly dominated … Continue reading “Change and Continuity in Cuba”

Cuban Economy’s 1.1% Growth is Not Felt on Cubans’ Dinner Tables

14ymedio, Mario J. Pentón, Miami | 25 July 2018 – Cuba’s 1.1% economic growth the first semester of 2018, announced by President Miguel Díaz-Canel, will not reach the kitchens of the Cuban people, nor will it be felt in the already reduced purchasing power of their wallets, according to various economists consulted by 14ymedio. The island, crippled by … Continue reading “Cuban Economy’s 1.1% Growth is Not Felt on Cubans’ Dinner Tables”