Wednesday, September 27, 2006

Cuba's debt to Russia to be restructured

Cuba's debt to Russia to be restructured
RBC, 27.09.2006, Moscow 09:59:52.

An intergovernmental accord for settling Cuba's debt to Russia worth
some $166m will be signed during Russian Prime Minister Mikhail
Fradkov's official visit to Cuba on September 28-29, a source within the
Russian delegation accompanying the PM on this visit told RBC. The
source did not reveal any specific details of the deal, but said that
the debt would be restructured, and that a grace period would be
provided for, among other things. Cuba's debt to the USSR in the amount
of about $26bn will not be discussed. This, along with debt
rescheduling, will open new opportunities for relations between the two
countries, as Russia will now be able to offer new credits to Cuba, the
source elaborated.

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