Cuba Presents Its Situation to Creditors, Deteriorated by the Blockade
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Cuba Explains Economic Challenges to Paris Club Creditors
The Cuban government today presented to its creditors gathered in the Paris Club the economic and financial situation facing the island, aggravated by the tightening of the US blockade under the Administration of President Donald Trump.
The parties held a follow-up meeting in this capital to the agreement reached a year ago, when they agreed to modify issues related to debt payment—a pact that offered the Caribbean nation better space to meet its commitments in the challenging economic scenario it faces.
Cuban Delegation Led by Vice Premier
The Cuban delegation was headed by Vice Prime Minister Oscar Pérez-Oliva, who was accompanied by, among others, the Minister of Finance and Prices, Vladimir Regueiro, Ambassador Otto Vaillant, and authorities from the Central Bank, the Foreign Ministry, the National Office of Statistics and Information, and the Ministry of Foreign Trade and Foreign Investment.
The meeting was directed on behalf of the Paris Club by its Co-Chairman, Thomas Revial.
Impact of the US Blockade Detailed
The Cuban side addressed the island's situation, which it defined as complex, stemming from the consequences of the economic, commercial, and financial blockade that Washington has imposed for over six decades—a policy tightened to unprecedented levels since Trump's return to the White House in January 2025.
It also updated the group of creditors—comprising Australia, Austria, Belgium, Canada, Denmark, Spain, Finland, France, Italy, Japan, the Netherlands, Sweden, Switzerland, and the United Kingdom—on recent decisions adopted in the Caribbean country to boost the economy with a focus on sustainable development.
Commitment to Constructive Ties Reaffirmed
Both Cuba and the Paris Club emphasized their commitment to preserving the constructive ties achieved and highlighted France's role at the helm of the group's Secretariat.
Likewise, the efforts of the largest of the Antilles to fulfill the agreed terms were recognized. (Source : Cubasi)
