Cuba Reaches Deal with Creditors Over Billions of Debt

    Cuba’s largest creditors will be forgiving the nearly-broke communist island a large part of their debt.

    FOX News’ Eben Brown reports from Miami:

    Cuba owes a lot of other countries a nice sum of money… But now those nations say it will cancel $8.5-billion Cuba owes in the form of interest payments, simply on promise by the Castro regime that it will pay off the principal $2.6-billion over the next 18 years.

    The deal was arranged by France, which is Cuba’s largest creditor. The debt-reduction deal had been a long goal of Cuban President Raul Castro, in hopes of further improving foreign relations and modernizing the island’s economy.

    In Miami, Eben Brown, FOX News.

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