Tuesday, December 10, 2013

Diga me, adiós

All those handshakes for Presidente Castro at Nelson Mandela's funeral shouldn't let us forget the mantra of Cuba; Can't get blood out of a nabo;
Russia and Cuba have announced a landmark agreement to write off 90% of Cuba’s US$32bn debt, which dates back to the Soviet era. The agreement marks an important breakthrough a 20-year dispute between the two countries, and paves the way for greater bi-lateral trade and investment.
We can't pay for all the stuff you sent to us in the past (oil, mostly), but we'd like to buy more stuff.
Under the terms of the new deal, which was finalised in October 2013 but made public earlier today, Cuba will have to pay the remaining US$3.2bn debt to Russia in equal annual installments over a 10-year period. The agreement still has to be approved by the Duma, the lower house of Russian Parliament.
As Doris Day might put it, Que será, será.

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