Paris Club agrees to restructure Cuba’s debt, cancels interest

(Post News, Zambia, 15 December 2015) According to the Paris Club, representatives of the Group of Creditors of Cuba and of the Government of the Republic of Cuba met from December 10-12 and on Saturday came up with an arrangement to clear US$2.6 billion of debt in arrears due to the Group of Creditors of Cuba over an 18-year period. After striking the agreement, Paris Club said the Group of Creditors of Cuba’s export credit agencies that wish to do so will resume their export credit activities. The Group of Creditors of Cuba includes Australia, Austria, Belgium, Canada, Denmark, Finland, France, Italy, Japan, the Netherlands, Spain, Sweden, Switzerland and the United Kingdom.