Cuba Paris Club’s 2nd Leading Debtor

HAVANA TIMES, May 4 – With a debt of 30.41 billion dollars, Cuba ranks in second place behind Indonesia on the list of the Paris Club’s debtor countries, according to a report released in the French capital by that group of 19 developed countries, created in 1956.  The nations that owe the most include China and India in third and fourth place, reported IPS.

One thought on “Cuba Paris Club’s 2nd Leading Debtor

  • There’s no objective reason why socialist Cuba should owe international capitalism anything. A socialist country, a functional, authentically socialist country has its own capital.

    Money therefore should not have to be borrowed, because money is not real capital. Real capital is the ability of the people of a country to use their labor and genius to produce use-values.

    If a country is indebted to the financial empire it means that country is not a functionally socialist economy.

    It is the economic science of the bourgeoisie that wishes us to keep believing that their electronically-created credit/money is “capital.” The socialist transformation is supposed to stop all this nonsense. It is supposed to do this by generating its own credit/money by owning its own banking system.

    No wonder Cuba is having a difficult time! If she is paying all the extra value created by the workers to “service her international debt,” nothing can be left over for the people.

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