Cuba's Debt

Sociedad Jose Marti
CUBA FACTS
Issue 8 - February 2005



Cuba Facts is an ongoing series of succinct fact sheets on various topics, including, but not limited to, political structure, health, economy, education, nutrition, labor, business, foreign investment, and demographics, published and updated on a regular basis by the Cuba Transition Project staff.



I. CUBA: HARD CURRENCY DEBT* (Dec. 2004)

CREDITORS BY COUNTRY


DEBT (in US$)

Japan (1)


$2.331 billion

Argentina (2)


$1.967 billion

Spain (3)


$1.765 billion

France (4)


$1.316 billion

Venezuela (5)


$992 million

China (6)


$682 million

Mexico (7)


$480 million

Italy (8)


$447 million

United Kingdom (9)


$371 million

Germany (10)


$317 million

Netherlands (11)


$295 million

Russia [post-Soviet era debts] (12)


$235 million

Czech Republic (13)


$226 million

Belgium (14)


$221 million

Panama (15)


$200 million

Canada (16)


$90 million

Austria (17)


$79 million

Brazil (18)


$40 million

Trinidad & Tobago (19)


$30 million

Uruguay (20)


$30 million

Sweden (21)


$22 million

Undisclosed Foreign Financing (22)


$258 million

Other Historic Debt (23)


$893 million (est.)

*On the basis of Nov. 2004 exchange rates and rounded to the nearest million.

TOTAL


$13.288 billion (est.)



II. CUBA: NON-CONVERTIBLE DEBT (2004 Est.)

CREDITOR GOVERNMENTS


DEBT (in Transferable Rubles)

Russia [Soviet-era debt] (24)


20.848 billion

Romania (25)


951 million

Hungary (26)


200 million

Poland (27)


70 million

TOTAL


22.069 billion



III. CUBA: PER CAPITA FOREIGN DEBT

Cuba [hard currency only]: US$1,176 (2004 est.)

Cuba [including ruble debt]: US$3,100 (2004 est.) [28]

IV. CUBA: PRE-CASTRO FOREIGN DEBT [29]

Foreign Debt in 1958: US$48 million [~US$315 million in 2004 dollars]

Per Capita Foreign Debt in 1958: US$7.38 [~US$49 in 2004 dollars]



Tomado del Cuba Transition Project, Institute for Cuban & American Studies, University of Miami.