Castro, Inc. owes $46 million to Spanish businesses, credit suspended

Castro, Inc. trade fair

Castro, Inc. is holding a trade fair in Havana, seeking to attract more suckers to invest in its monopoly.

See image above (and please notice the poster advertising Castrogonia’s “strategic geographic location” and “political, social, and juridical stability”…. yes, STABILITY…

Foreign firms can’t own anything in Castrogonia: they build and run whatever they set up for a share of the profits, but Castro, Inc. retains ownership and takes the lion’s share of the profits, including 92% of the salaries paid to the employees of those foreign firms.

Castro, Inc. also loves to buy stuff on credit from its business partners.

And Castro, Inc. has a nasty habit of not paying what it owes, knowing that its debts will be reduced or forgiven.

In other words, foreign nations and corporations keep the Castro dynasty and its monopoly afloat.

Don’t ask why… You will go insane trying to figure that out….as the Gogol Bordello song “Start Wearing Purple” puts it: “all your sanity and wits they all will vanish, I promise, it’s just a matter of time.”

Here is the latest chapter in this ongoing scam.

Keep an eye open for all of the verbal gymnastics of the Spanish Trade Minister… worthy of a gold medal in the Semantics Olympics.

Spanish Trade Minister María Luisa Poncela

From Marti Noticias via Google Translate

The Secretary of State for Trade of Spain, María Luisa Poncela, told EFE that this is one of the reasons for her visit to the island. The amount of the debt has caused the suspension of the assurance to the financing or of Spanish exports to Cuba.

The Secretary of State for Commerce of Spain, María Luisa Poncela, said she was confident that they could solve the problems of defaults that Spanish companies face on the island, amounting to around 40 million euros ($ 46.6 million).

Poncela, who attended the inauguration of the Spanish pavilion at the International Fair of Havana (FIHAV 2017), told the EFE news agency that one of the reasons for his visit to the Caribbean country is “to study the situation of the Cuban Government’s finances in the face of payments to Spanish companies. ”

According to data from the Spanish Export Credit Insurance Company (CESCE), the volume of defaults is around 40 million euros, which requires keeping this credit line closed until the situation is regularized.

Poncela opted not to speak of defaults but of “delays” in the terms and argued that the fertilizers “will occur”.

“It is something that we are analyzing together with the Cuban Government and I am sure that we will find a solution,” added the Secretary of State, who said that “not all Spanish companies” present in Cuba face this problem.

Continue reading HERE (in Spanish)

Castronoid Minister of Foreign Trade Rodrigo Malmierca

1 thought on “Castro, Inc. owes $46 million to Spanish businesses, credit suspended”

  1. Malmierda will chew up and spit out Putzela, who could hardly look more like a hapless doormat, but it’s all a tired old game. The Castro rob-o-lootionaries will keep borrowing and buying on credit with no intention of ever paying, and the usual enablers will keep letting the deadbeats get away with it. It’s all a stinking racket.

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