Cuba & China Normalize Financial Relations

HAVANA TIMES, Dec. 19 — Cuban and Chinese authorities have agreed to normalize their financial relations as a result of the 23rd Session of the Intergovernmental Commission. The Asian giant also gave the island an unspecified interest-free governmental credit and a donation, both for development projects.

“China is a relatively new member of Cuba’s creditor club, having provided billions in loans over recent years. But it is now Havana’s biggest creditor and second largest trading partner, after Venezuela,” wrote Marc Frank earlier in the week for the Financial Times.