Search results for: cuba london debt

Cuban Regime Disguises as a Victory its Defeat in the London Trial for the National Bank of Cuba 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”

The First Effects of the London Trial’s Verdict on Cuba’s Debt

14ymedio, Elías Amor Bravo, Economist, 5 April 2023 — On January 23, a trial began in the British High Court of Justice for a debt claim of the CRF I Ltd. fund (plaintiff) against the National Bank of Cuba and the Republic of Cuba (defendants). A trial that, as expected, was not going to have … Continue reading “The First Effects of the London Trial’s Verdict on Cuba’s Debt”

The Trial on Cuba’s Sovereign Debt in London, in Five Questions

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”

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"”

Thirty Sorolla Paintings that Cuba Refused to Loan to Spain Reappear in Havana

14ymedio, Havana, January 19, 2024 — Thirty paintings by Spanish artist Joaquín Sorolla (1863-1923), which the Cuban government refused to lend to Spain last April for the centenary of the artist’s death, are now on display in Havana. The exhibition, which includes major works by the artist as well as sketches and other, less significant … Continue reading “Thirty Sorolla Paintings that Cuba Refused to Loan to Spain Reappear in Havana”

Argentina Will Make a New Attempt To Collect the 2.8 Billion Dollars Owed by Cuba

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”

Cuba’s Umpteenth Negotiation With the Paris Club for Non-Payments, Meanwhile Luxury Hotels Multiply

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”

Keys to Cuban President Diaz-Canel’s Speech at the BRICS Summit

14ymedio, Elías Amor Bravo, Economist, 25 August 2023 — There was expectation about Díaz-Canel’s speech before the G77 and the BRICS gathered in Pretoria during the XV Summit of these countries. A missed opportunity to correct mistakes and and set things straight. Unfortunately, this is not present in the Cuban regime and, therefore, this speech … Continue reading “Keys to Cuban President Diaz-Canel’s Speech at the BRICS Summit”

‘Bankification’ is Economic Repression in Cuba

Elías Amor Bravo, Economist, August 4, 2023 — Who benefits from the ’bankification’ of the Cuban economy? This question has been going around since the Regime, using an entity at its service, the Central Bank of Cuba, has announced measures that aim to reduce the circulation of cash and get economic actors to use electronic … Continue reading “‘Bankification’ is Economic Repression in Cuba”

A Critique of Cuban President Diaz-Canel’s Speech at the Paris Summit

14ymedio, Elías Amor Bravo, Economist, 23 June 2023 — We already know that Cuban President Miguel Díaz-Canel went to the Summit for a New Global Financial Pact in Paris with nothing to offer. At the expense of the meager Cuban budget, basically, he took some souvenir photographs, checked in with friends like Lula and Guterres … Continue reading “A Critique of Cuban President Diaz-Canel’s Speech at the Paris Summit”

Will the Doors of the Cuban Financial System Be Opened to International Banking Like Tourism?

14ymedio, Elías Amor Bravo, Economist, 23 April 2023 — Really, now nothing is understandable at all. Marrero says that the Cuban financial system “must play a more prominent role.” Maybe he didn’t mean to say that, or most likely he ignores what he’s saying. It seems unbelievable that the communists are now demanding that their … Continue reading “Will the Doors of the Cuban Financial System Be Opened to International Banking Like Tourism?”

Cuba: There’s No More Fuel, and Now What Do We Do?

14ymedio, Elías Amor Bravo, Economist, 19 April 2023 — An activity as simple in other countries as arriving in a vehicle to a gas station and filling the tank has become another headache for Cubans who have the privilege of access to cars or any other means of transport. It is no longer just the … Continue reading “Cuba: There’s No More Fuel, and Now What Do We Do?”

Cuba’s National Bank Will Appeal the British Judgment on the Debt

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”

Restrictions on Mineral Extraction Force U.S. to Import Cuban Nickel through Other Countries

14ymedio, Havana, 15 March 2023 — The nickel that the Canadian company Sherritt International extracted from mines in Moa and Punta Gorda, in Cuba’s Holguín province, has a clear pathway to large electric car factories in the United States. In response to pressure from environmentalists, the Biden administration adopted a series of measures in January … Continue reading “Restrictions on Mineral Extraction Force U.S. to Import Cuban Nickel through Other Countries”