Cuba offers to repay Rs 187 cr debt to Czech Republic with rum
Reportedly, Cuba's finance ministry aforementioned it doesn't have enough cash to pay back the $276 million debt, however has teeming quantities of rum on the market.
Cuba, that encompasses a multimillion-dollar debt to be paid off to the European country, nearly Rs 187 large integer, offered to pay it off in an exceedingly rather distinctive method. The country has propounded the thought to pay off the thumping quantity with its widespread liquor — rum, enough for the European country voters to consume for over a century!
According to a BBC report, Cuba’s finance ministry aforementioned, Havana, the country’s capital, doesn't have enough cash to pay back the $276 million debt, however has voluminous quantities of rum accessible. The Czech finance ministry has aforementioned that the provide was found when negotiations on the difficulty, recently. in step with the account, Prague has aforementioned that it might like a minimum of a number of the debt to be came back in money.
This large debt quantity dates back to the days of the conflict, once Cuba was a district of European country, then geographical area, that was then a district of the Communist alliance with Central and jap Europe. The Cuban government has conjointly planned another choice, that to repay the debt victimisation pharmaceutical medication. BBC aforementioned the country’s medication, however, lack European Economic Community certification and, hence, “repaying with a additional ancient medicine”, in all probability bearing on the Cuba’s rum, looks like a additional plausible choice.
Cuba is one in every of the foremost widespread exporters of rum within the world. Cuban-based liqueur Ricard’s national capital Club is reportedly the world’s fifth-biggest rum whole. This whole of rum was apparently began to be created within the year 1934, and is closely-held by liqueur Ricard and therefore the state’s government, both.
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