Completed Development AidData Chinese Aid

Chinese Government restructures $3.17 billion of the Cuban Government's outstanding debt obligations in 2016 (Linked to Record ID#54691)

Funder	Unspecified Chinese Government Institution
Recipient Organization	Government of Cuba
Country	Cuba
Start Date	Jan 01, 2011
End Date	Jul 21, 2028
Duration	6,411 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`39195`

Grant Description

In 2016, the Chinese Government reportedly forgave 42.7% ($2.83 billion) of the Cuban's Government's outstanding debt obligations (worth $6 billion).

The Chinese Government reportedly rescheduled the remaining 52.8% of the Cuban Government's outstanding debt obligations (worth $3.17 billion). The exact terms of the restructuring are unknown. However, one source suggests that 5-years of additional grace was provided as well as an interest rate reduction.

The 2016 debt forgiveness is captured via Record ID#54691. The 2016 debt rescheduling is captured via Record ID#39195.

📋 Staff Comments

No transaction amount coded to avoid double counting.

📚 Sources & References

Putin Writes Off $32 Billion of Cuba's Debts to Russia
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Informe: “La economía cubana: situación en 2017- 2018 y perspectivas para 2019”
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