Russia to partially write off Cuba’s US $25 billion debt

HAVANA, Cuba, CMC – Russia’s Industry and Trade Minister Denis Manturov says his country will forgive part of Cuba’s US$25 billion Soviet-era debt and restructure the rest as part of agreements that include Havana getting Russian jetliners worth US$650 million. On an official visit here, Manturov told reporters that Deputy Foreign Minister Sergei Ryabkov and Ricardo Cabrisas, vice president of the Council of Ministers, had initialed the debt agreement, adding that the details would be worked out by the end of the year. He said the restructuring would be spread out over the next 10 years, disclosing that the agreement was signed in front of visiting Russian Prime Minister Dmitry Medvedev and Cuban President Raúl Castro.