{"id":2193,"date":"2019-01-30T11:59:41","date_gmt":"2019-01-30T11:59:41","guid":{"rendered":"https:\/\/pakistanintheworld.pk\/?p=2193"},"modified":"2019-01-30T11:59:41","modified_gmt":"2019-01-30T11:59:41","slug":"putin-writes-off-32-billion-of-cubas-debts-to-russia","status":"publish","type":"post","link":"https:\/\/pakistanintheworld.pk\/live\/putin-writes-off-32-billion-of-cubas-debts-to-russia\/","title":{"rendered":"Putin Writes Off $32 Billion of Cuba&#8217;s Debts to Russia"},"content":{"rendered":"<p>Russian President Vladimir Putin is currently on a grand tour of Latin America. His first stop is in Havana, Cuba. Ahead of arriving in Cuba, Putin decided to bestow a gift upon the Cuban government. With one swift signature, <a href=\"http:\/\/online.wsj.com\/articles\/russia-writes-off-cuba-debt-1405083869?mod=fox_australian\" data-omni-click=\"r'article',r'',d,r'intext',r'1',r'None'\">he eliminated $32 billion of Cuba&#8217;s debt, left over from the Soviet era<\/a>.<\/p>\n<p>Cuba isn&#8217;t completely off the hook. They will be required to pay back just $3.2 billion over the next ten years, a 90 percent decrease from what they previously owed. The first payment is due in October, and will be made from the National Bank of Cuba to the Russian lender\u00a0Vnesheconombank.<\/p>\n<p>Cuba has been working to restructure its debt <a href=\"http:\/\/rt.com\/business\/172020-russia-cuba-debt-writeoff\/\" data-omni-click=\"r'article',r'',d,r'intext',r'2',r'None'\">over the last few years<\/a>. In 2011, Cuba was able to restructure a $6 billion debt with China. Other nations have also forgiven their debt. In 2012, Japan forgave $1.4 billion and more recently, Mexico forgave $478 million in debt.<\/p>\n<p>While it may be nice to think Putin was simply showing a kind gesture to the Cuban government in forgiving this debt, it may be motivated by oil. Right now, the\u00a0<a href=\"http:\/\/www.thewire.com\/business\/2014\/06\/cuba-hopes-to-sign-oil-deal-with-rosneft\/373091\/\" data-omni-click=\"r'article',r'',d,r'intext',r'3',r'None'\">Cuban state oil company CUPET and Russia&#8217;s Rosneft are in negotiations for a very lucrative deal<\/a>.\u00a0Russia and Cuba are close allies. Last year, trade between the two countries totaled about $200 million.<img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-2194\" src=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2019\/01\/putin-castro1.jpg\" alt=\"\" width=\"634\" height=\"413\" srcset=\"https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2019\/01\/putin-castro1.jpg 634w, https:\/\/pakistanintheworld.pk\/live\/wp-content\/uploads\/2019\/01\/putin-castro1-300x195.jpg 300w\" sizes=\"(max-width: 634px) 100vw, 634px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russian President Vladimir Putin is currently on a grand tour of Latin America. His first stop is in Havana, Cuba. Ahead of arriving in Cuba, Putin decided to bestow a gift upon the Cuban government. With one swift signature, he eliminated $32 billion of Cuba&#8217;s debt, left over from the Soviet era. Cuba isn&#8217;t completely [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2194,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"_links":{"self":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/2193"}],"collection":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/comments?post=2193"}],"version-history":[{"count":1,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/2193\/revisions"}],"predecessor-version":[{"id":2195,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/posts\/2193\/revisions\/2195"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media\/2194"}],"wp:attachment":[{"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/media?parent=2193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/categories?post=2193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistanintheworld.pk\/live\/wp-json\/wp\/v2\/tags?post=2193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}