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Reuters
Reuters
Business
By Marc Frank

Cuba wins China debt relief, new funds

Cuba's President Miguel Diaz-Canel attends a wreath-laying ceremony at the Monument to the People's Heroes at Tiananmen Square in Beijing, China, November 25, 2022. Alejandro Azcuy/Courtesy of Cuban Presidency/Handout via Reuters

China has agreed to restructure Cuban debt and provide new trade and investment credits to the beleaguered Caribbean Island nation after a meeting in Peking between the two Communist countries’ leaders.

Cuba Economy Minister Alejandro Gil said the latter had also donated $100 million to help the country cope with basic goods shortages and an energy crisis worsened by Hurricane Ian, which decimated western Pinar del Rio province in late September.

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