Surprise! Paris Club grants Cuba some temporary relief in paying its massive debt

Castrogonia’s deputy minister and money-man Ricardo Cabrisas and Emmanuel Moulan of the Paris Club

From our Capitalist Enablers of Socialist Tyranny Bureau

Too bad that foreclosure is not an option for lenders who are owed billions of dollars by deadbeat nations such as Castrogonia.

What can the Paris Club do? Really. Castro, Inc. has the Club over a barrel, and it knows that. It’s been on the Castro playbook since day one. Borrow, borrow, borrow. Never pay. It’s astounding. The lenders keep lending, Castro, Inc. keeps defaulting. So the lenders simply keep lending.

It’s really a poorly disguised form of aid. This isn’t real banking. It’s flagrantly open aid to a murderous regime, and it makes no sense financially. Castro, Inc. is keeping secret the details of this latest bailout, but you can bet your bottom dollar that whatever this extension entails, Castro, Inc. will never, ever pay off this particular bundle of debt, and these European enablers will keep shoveling money down Castro, Inc.’s insatiable maw, anyway, ad nauseam..

Time to celebrate in Havana: “Ganamos! Pa’l carajo con los comemierdas de Paris Club!”

Loosely translated from Marti Noticias:

The Paris Club agreed to modify its debt renegotiation agreement with Cuba, offering the island a new deadline to settle the pending issues it has with the 14 states that make up that group, including Spain and France, according to reports from various media outlets. press.

Cuba’s group of creditors said Thursday that it will give the Caribbean country more time to honor various payments made under the 2015 Agreement, although the present value of the quotas is maintained, Reuters said.

Cuba entered into default last year, and only partially complied in 2019.

Deputy Prime Minister Ricardo Cabrisas, Cuba’s main foreign debt negotiator, renegotiated the postponement this week in the French capital with Emmanuel Moulin, director general of the Treasury and president of the Paris Club.

According to reports from the state-run Prensa Latina, which does not give details of the new agreement, Cabrisas said that the defaults are due to the “unprecedented tightening of the economic, commercial and financial blockade of the United States and the impact of phenomena associated with climate change and the Covid-19 pandemic “.

A note from the Cuban embassy in France indicates that the exchanges, held between June 9 and 10, were carried out “in a constructive climate of mutual understanding,” which made it possible to “explain the measures that Cuba has been adopting for the recovery of the national economy “.

continue reading HERE, in Spanish

2 thoughts on “Surprise! Paris Club grants Cuba some temporary relief in paying its massive debt”

  1. One of the men in the top photo looks like a mafioso type. Guess who. In the bottom photo, one of the men looks like a classic socotroco (not to be confused with a goon). Guess who.

  2. Note how Castro, Inc. tacks on climate change as an excuse, though I expect to them it’s just a fashionable buzz phrase. Besides, the dirtbags know damn well what’s really behind their chronic defaults. The only question is not why they default but why anyone of sound mind would keep giving them money.

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