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Dublin: 8 °C Thursday 12 December, 2019

Cuba has offered to pay its €265 million debt to the Czech Republic - in rum

That would give the Czechs enough rum for 100 years.

Image: Desmond Boylan/PA

THE CZECH FINANCE Ministry says Cuba has offered an unusual way of repaying its Cold War-era debt — its trademark rum.

Finance Ministry spokesman Michal Zurovec said that Cuban authorities have proposed to pay back $276 million (€265 million) to the Czech Republic from the time both countries were part of the communist bloc.

If that proposal becomes reality, the Czechs would have enough Cuban rum for well over a century. According to the Czech Statistics Office, the Czechs imported rum from Cuba worth over $2 million (€1.8 million) last year.

Zurovec says that the Czechs would still prefer the debt was at least partly paid in cash.

In the past, North Korea wanted to repay its $10 million (€9 million) debt with products made with ginseng.

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Associated Press

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