While socialist Cuba continues raking in cash from the medical slave trade, foreign debt skyrockets

The medical slave trade business is bringing in billions of dollars for Cuba’s communist Castro dictatorship. None of it, however, seems to be going towards paying down the nation’s sizable debt. Instead, the Cuban regime is racking up significantly more debt it is unlikely to ever pay back.

Via The Miami Herald:

Cuba’s foreign debt is on the rise despite big profits from medical services abroad

Cuba’s foreign debt has grown at an alarming rate in the past few years despite the government reporting multimillion-dollar revenues from a controversial medical services export program, a new official report shows.

In just three years, between 2013 and 2016, the country’s foreign debt grew by almost 53% percent, from $11.9 billion to $18.2 billion, according to the recently published 2018 annual report by Cuba’s National Office of Statistics and Information, known by its initials in Spanish, ONEI.

[…]

The report contains, for the first time, data on government foreign-exchange earnings. Last year, the medical services export program generated $6.4 billion and was Cuba’s largest source of income. The government does not publish data on remittances received from abroad, estimated at more than $3 billion yearly.

“Support services” and “telecommunications, transmission and information provision services” generated more than $2 billion, according to the official report.

It is not clear if these “support” services were carried out inside or outside the country; or if they are associated with the so-called “medical missions” abroad through which Cuban authorities collect a high percentage of the salaries that foreign governments pay Cuban doctors.

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2 thoughts on “While socialist Cuba continues raking in cash from the medical slave trade, foreign debt skyrockets”

  1. There is no way in hell their medical slave trade scheme can ever be enough to finance their survival.

    Running an entire military/oppressive/monopolistic apparatus (in a nation with a population of 11 million) without a real economy takes more than the pimping doctors.

    For starters, it takes Democrats and RINOS in the White House – that’s done for a good while.

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