Tuesday, October 30, 2007

Business news

As you may have read previously, the Castro regime has a less than exemplary record when it comes to paying off its international debts.

In fact, Havana owes at least USD8 billion to Western banks and businesses but has refused to pay a single cent back since 1986. In short, it's defaulted on the debt.

And this does not include the country’s debt to the now-disappeared Soviet Union, estimated to be worth at least USD20 billion, which, of course, will never be repaid.

Well, there is more. According to this news report, the Castro brothers also owe the Czech Republic more than 214 million Euros, making Cuba the country’s number one debtor.


And the likelihood of Prague ever recouping any of this money from their one-time "fraternal" Communist allies? That's right - zero.

3 Comments:

Blogger Lori said...

And with a track record like that, there are still people who with a staight face, tell the US to lift the embargo, when the only thing the embargo is prohibiting right now is that Cuba be extended any credit. They can buy whatever they want from the US as long as they buy in cash.

If the embargo is lifted and the US extends cedit, when that regime defaults, guess who's going to have foot the bill for a government that hates everything they stand for? The US citizens, that is who.

Now why should anyone around the world call for a lifting of the embago, especially those countries who are owed money by that same monster? As it is, Cuba owes the US with all the properties it confiscated, if they have yet to pay that debt, why should the US extend them anymore credit?

11:54 pm  
Anonymous Anonymous said...

Nobody ever said the Castro apologists, promoters and sycophants are even remotely concerned with logic or reason, let alone justice (and of course, forget truth, which is highly inconvenient and only gets in the way of their agenda).

If the Cuban tragedy teaches anything, it is that, sadly, most people are at best indifferent, and many are considerably worse.

12:59 am  
Blogger Lori said...

Anonymous,

So true, it is just very hard to accept such a notion.

1:05 am  

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