“Russia has written down $32 billion of Cuba’s Soviet era debt. Russian President Vladimir Putin signed the law ahead of his official visit to Latin America, with Havana as his first stop.  The agreement was first signed in October 2013 and draws a line under a twenty-year dispute.  Cash-strapped Cuba has been feverishly trying to restructure its debt to jump start its economy and attract investment. Three years ago it restructured $6 billion it owes to China, and in 2012 Japan forgave about $1.4 billion.  Mexico recently forgave $478 million of Cuban debt.  Cuba remains a strong ally of Russia, with trade between the two countries at about $200 million last year.”

http://rt.com/business/172020-russia-cuba-debt-writeoff/

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