HAVANA — Cuba failed to meet payments last year on its restructured debt to wealthy nations, putting a deal with the Paris Club of creditors in jeopardy, according to diplomats with direct knowledge of the issue. Under the 2015 debt restructuring accord, considered an important step toward the Communist-run country’s reintegration into the international financial community, stiff penalties should kick in, they said. The agreement with 14 countries working through the Paris Club of creditor nations was signed at a time when a brief detente with the United States was getting underway. “The agreement is extremely beneficial for Cuba and that they could not pay speaks volumes about how broke they are,” said one diplomat with knowledge of the situation who, like three others consulted by Reuters, requested anonymity due to the sensitivity of the matter.

Source: International New York Times February 11, 2020 17:48 UTC