Cuban dictatorship fails to repay $55 million loan from the United Arab Emirates

Minister of Hypnotism Ricardo Cabrisas in Abu Dhabi with Mohammed Saif Al Suwaidi

From our Bureau of Highly Predictable Events with some assistance from our Bureau of Colossally Moronic Lenders

No surprise here. Once again, Castro, Inc. is busy “restructuring” its debt to a lender who was stupid enough to expect repayment. One must ask, what is wrong with these dolts who lend vast sums of money to a nation that NEVER pays back whatever it borrows from anyone?

Is there a medical term for such deranged behavior? Or is it possible that Ricardo Cabrisas — the Castronoid minister who constantly negotiates the restructuring of Cuba’s debts — has supernatural hypnotic powers?

Loosely translated from Diario de Cuba

After it became known this week about the visit of Ricardo Cabrisas, deputy prime minister and head of Foreign Trade and Foreign Investment of Cuba, to the United Arab Emirates, expectations grew around the reasons for an unusual trip for the regime’s debt negotiator. of the island.

As DIARIO DE CUBA anticipated, the senior Cuban official does not carry out visits of this nature without an agenda that includes sealing deals, loans or renegotiating debts. And the official press in Havana has made known the central reason for his agenda.

According to the state-run Cuban News Agency (ACN), at the end of Cabrisas’ official trip to the Arab nation on Thursday, Carlos Pereira, general director of Bilateral Affairs of the Cuban Foreign Ministry met with Mohammed Saif Al Suwaidi, general director of the Abu Dhabi Fund for Development (ADFD).

According to the report, “in this last meeting, the two parties reviewed the current status of the joint projects that are carried out with support from the Fund, linked to the hydraulic and renewable energy spheres, with high social impact.”

But the focus of the meeting would have been the adoption of a “memorandum of understanding for the reorganization of the payment of financing delivered by ADFD to Cuba, as part of actions aimed at strengthening economic and cooperation ties.”

In other words, as Cabrisas has done for years with the Paris Club, Moscow and Caracas, among other creditors of Havana, now he had to renegotiate the payments of a million-dollar loan granted by that fund to the Island.

Although the terms of the agreement, signed in 2015 between the United Arab Emirates and Havana, are unknown, the ADFD indicates on its official site that it granted $55 million in loans for what the entity calls “a solar network concentrator.”

Continue reading HERE in Spanish

2 thoughts on “Cuban dictatorship fails to repay $55 million loan from the United Arab Emirates”

  1. There seems to be an endless supply of old camajanes like Cabrisas apparently prepared to serve the “revolution” till they drop dead or become incapacitated. Obviously they’ve learned nothing, but I suppose that as long as they live well enough off the shit they’re doing, that’s fine with them. Talk about disgusting.

    Part of the reason, of course, is that an awful lot of people rose higher than they deserved based on political reliability and loyalty, so they continue to serve the system that artificially elevated them.

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