Mexico to Waive Most of $487 Million Owed by Cuba

The Mexican government is ready to waive 70 percent of a debt worth nearly $500 million Cuba owes it, Finance Minister Luis Videgaray said on Friday, as Mexico seeks to improve ties with the communist island. Speaking on Mexican radio, Videgaray said a loan issued by Mexico's foreign trade development bank Bancomext to Cuba more than 15 years ago had become a debt worth $487 million. “Seventy percent of the debt is to be waived,” said Videgaray, adding that a formal announcement would ...

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