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The Cuban government admitted Friday (21) that it would not be able to meet all of its debt commitments in 2019 due to internal economic complications, but clarified that payment priorities would be set .
"In 2019, we will use fewer credits than the debt we are planning to pay, which is not all, we have a debt level that we will not be able to pay next year. will affect the performance of the economy "The Minister of Economy, Alejandro Gil, said at a session of the National Assembly during which projects are discussed for the 39th. ;next year.
"The level of indebtedness with which the economy operates is high and generates daily tensions.We were looking for ad hoc solutions, but this affects the harmonic performance of the economy", a- he commented.
Gil badured that the government would set "a priority level" for its commitments and explained that the amount of debt that Cuba would pay would be slightly higher than the amount of new credits they will have ", which means that we would Will not increase the level of debt ".
Cuban President, Miguel Diaz-Canel, speaking at a welcoming ceremony to Cuban doctors recently arrived from Brazil at the beginning of the year. ;airport.
Cuban President, Miguel Diaz-Canel, speaking during a welcoming ceremony [Photo:FernandoMedina/Reuters
Recently, part of Cuba's debt to Brazil has entered in moratorium, while another party is behind in funding related to the construction of the port of Mariel and the purchase of food.
Havana justifies these delays by the effects of Hurricane Irma on its crops and by the intensification of the embargo imposed by the United States, which hampers its international financial operations.
Cuba managed to renegotiate a large part of its foreign debt, especially with the Parisian club. Today, the European Union is its main trading partner.
Gil stated that 24.5% of his imports were for investment projects. "It shows that we are not holding back and we are not developing and we are banking on strategic sectors," he said.
"The task is that every dollar you lend to us for an investment can be made profitable within the timeframe indicated, from the income of that investment itself, so the plan is designed for next year", said Gil.
The government reported that the economy had grown 1.2% in 2018 due to the shortage of flour – which already normalizes supply – and foods such as eggs, as well as complications in public transport.
