Yet another nation owed money by the Castro Kingdom has agreed to “restructure” that deadbeat nation’s debt.
That debt amounts to 50 million euros (roughly 56 million dollars).
This is but one of the many items sorted out when Iranian despot Hassan Rouhanni and Iranian Foreign Minister Mohammad Javad Zarif visited Castrogonia recently.
Add this one to a very, very long list of similar “restructuring” deals offered to King Raul and his merry men.
And also add this to the list of enemies of the U.S.A. that are tightening their relationship with King Raul in response to the Normalization Circus.
From Global Trade Review:
Iran and Cuba have signed an agreement to restructure Cuba’s debt to Iran.
The agreement was signed on September 20 by Iran’s export credit agency Export Guarantee Fund of Iran (EGFI), the Export Development Bank of Iran (EDBI) and Banco Exterior de Cuba.
According to EGFI’s deputy CEO Arash Shahraini, Banco Exterior de Cuba will start repaying the outstanding loan next month, and has with the agreement committed to settle the full loan by 2019.
“The debt relates to a credit line extended to Cuba 10 years ago to import goods and services from Iran,” he tells GTR.
The credit, he says, was given to public entities in Cuba, mainly in the agriculture, equipment and medicine sectors. The loan was backed by the Cuban government’s sovereign guarantee and EGFI covered the repayment.
EGFI would not reveal the amount of Cuba’s debt to Iran, but according to the Iranian news site the Financial Tribune, Cuba has a remaining debt of about €43mn to Iran, €50mn with interest.
The agreement to restructure Cuba’s loan forms part of a wider strategy to strengthen ties between the two countries. Last week Iranian President Hassan Rouhani made an official visit to Havana, where he met with Cuba’s President Raul Castro and former president and revolutionary leader Fidel Castro.
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