HAVANA, Sept 1 (Reuters) - Representatives of 14 western creditor nations, grouped in the Paris Club, were in Cuba this week to salvage a debt agreement with the import dependent country which is expected to default on payments for a fourth consecutive year.
William Roos, co-chairman of the Paris Club, had said on Wednesday that he proposed a plan which apparently was rejected.
The 2015 Paris Club agreement forgave $8.5 billion of the $11.1 billion in sovereign debt Cuba defaulted on in 1986.
Cuba, which last reported foreign debt of $19.7 billion for 2020, has restructured debt with Russia, China and some other creditors since then.
The Cuba group of the 22-member Paris Club, which manages old sovereign debt, comprises Australia, Austria, Belgium, Canada, Denmark, Finland, France, Britain, Italy, Japan, the Netherlands, Spain, Sweden and Switzerland.
Persons:
”, William Roos, Ricardo Cabrisas, Cabrisas, Marc Frank, Kirsten Donovan
Organizations:
Paris Club, Investment, Cooperation, Communist, Gross, Reuters, International Monetary Fund, World Bank, Thomson
Locations:
HAVANA, Cuba, Paris, Russia, China, Caribbean, Australia, Austria, Belgium, Canada, Denmark, Finland, France, Britain, Italy, Japan, Netherlands, Spain, Sweden, Switzerland