Paris Club offers one-year debt moratorium, Cuba wants two
Source : Johannes Werner Fri Jun 19, 07:59 pm ESTThe one-year offer is the response to an opening move in what Cuba might hope ends up in a renegotiated Paris Club agreement under even more favorable terms. In May, pandemic-stricken Cuba reportedly asked for a two-year moratorium and the waiving of penalties for overdue payments. Previous Top Stories
Economy
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AFP report: Cuba asks Paris Club for debt service delay through 2022
Reuters: Paris Club offers Cuba one-year moratorium on debt
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Companies
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Politics
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Data & Maps
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Less dependency on goods exports — in part due to a collapse of production
Cuba is no longer a country whose economy depends solely on the export of goods. This is not necessarily good news, however, because this change happened not only due to a diversification of sources of income — which has indeed been implemented — but because it is also the result of a collapse in the production of exportable goods.
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A first for Havana: The Jan. 27 tornado and its destruction
According to the construction ministry, 3,780 dwellings were affected; of those, 372 are completely destroyed, 518 are partially destroyed. More than 500 roofs were lost and more than 1,800 damaged.
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Cuba’s crude oil and natural gas output has practically been stagnating since 2003.
In fact, production of oil fields in the old Havana province (now Mayabeque province), including those of Guanabo, Boca de Jaruco, Santa Cruz and Puerto Escondido, decreased by one-third (-32.1%) over the past 10 years, from a record 1.87 million tons of oil, or 32,350 b/d*.
Meanwhile, yields in Matanzas province helped offset the decline in Havana/Mayabeque. Oil output at the Seboruco, Varadero-Cárdenas, Cantel and Majaguillar fields grew by one-third (34.4%) in the same period, to a record 1.54 million tons or 26,670 b/d in 2015.
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CSETI
Cuba Standard Economic Reports 1
Cuba Standard Economic Reports 2
