Mexico Could Cancel Cuba’s Debt

HAVANA TIMES, May 7 — Mexican senators Francisco Arroyo Vieyra, Yeidckol Polevnsky and Carlos Sotelo, who attended a parliamentary meeting in Havana, believe that Mexico could forgive the debt owed to it by Cuba, reported the Mexican daily La Jornada.

For his part, Cuban parliamentary president Ricardo Alarcon said that Havana wants to repay the debt to Mexico — 431 million dollars — but the problem is “how to pay it.”

In 2013, Havana must begin paying on what is owed, leaving the issue on the plate for the next Mexican government. According to the report, this will worsen the situation in the short term.

The exchange between the two countries was $373 million in 2011, according to the Ministry of Economy of Mexico, while Cuba’s National Statistics Office reported $380 million in 2010.