Exclusive - Cuba may revive Paris Club debt negotiations.

[dipsydoodle]

(Reuters) - Cuba and the Paris Club of wealthy creditor nations are working to resume talks over billions of dollars of official debt in a new sign the communist government is interested in rejoining the global economy.

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They said Cuba must first show creditors its books, which so far it has refused to do. Cuba considers its level of foreign reserves a state secret and publishes scant data on its current account and foreign debt, which it last revealed for 2010.

Still, the diplomats have taken Cuba's readiness to talk as an indication it may be willing to play by the rules of international finance.

Although it is still a long way off, any deal with the Paris Club would significantly reduce Cuba's debt, improve its reputation in financial markets and allow it to issue new debt.

http://uk.reuters.com/article/2014/04/22/uk-cuba-debt-exclusive-idUKBREA3L0R320140422

[Bacchus4.0]

1. they need to join the rest of the world in many respects, its time

The world is not waiting for Cuba to catch up. Marxism is an unworkable ideology even if you think it sounds nice.

[msongs]

2. the workers' paradise has debt? how can this be! nt

[Bacchus4.0]

3. there are only so many indentured servants that can be farmed out

the products they do have also have plenty of competition bananas, rum, fruit. Thats not gonna be enough to sustain a country.