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Cuba Creditors Offer 'Very Significant Relief' in Debt Proposal

Cuba's commercial creditors have offered "very significant debt relief" in a proposal sent to cash-strapped Havana in late January, according to two advisers to the group, in a sign that holders of the defaulted debt are ready to ramp up the pressure. The communist-run island has seen its financial situation deteriorate in recent months following the deepening of Venezuela's economic crisis, lower revenue from commodity and related exports, devastation wrought by...

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