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Cuba Nears Deal With Paris Club on Debt Forgiveness

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Cuba is near a deal with 15 rich creditor nations of the Paris Club to restructure $16 billion in debt stemming from a 1986 default, with creditors expected to forgive most of the amount owed, diplomats close to the talks said. The parties will meet in Paris later this week and, after two years of informal discussions, are close to a multilateral deal, the diplomats said. "Cuba has agreed to pay the principal of around $5 billion owed since its 1986 default in exchange for...

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