Chinese Government restructures $3.17 billion of the Cuban Government's outstanding debt obligations in 2016 (Linked to Record ID#54691)

Project narrative

In 2016, the Chinese Government reportedly forgave 42.7% ($2.83 billion) of the Cuban's Government's outstanding debt obligations (worth $6 billion). The Chinese Government reportedly rescheduled the remaining 52.8% of the Cuban Government's outstanding debt obligations (worth $3.17 billion). The exact terms of the restructuring are unknown. However, one source suggests that 5 years of additional grace was provided as well as an interest rate reduction. The 2016 debt forgiveness is captured via Record ID#54691. The 2016 debt rescheduling is captured via Record ID#39195.