14 February 2018
Cuba's commercial creditors have offered "very significant debt relief" in a proposal sent to cash-strapped Havana in late January, according to two advisers to the group, in a sign that holders of the defaulted debt are ready to ramp up the pressure. "The committee reached out to Cuba in late January," said Professor Rodrigo Olivares-Caminal, coordinator of the creditor group and a law professor at Queen Mary University of London (QMUL). He added: "We are trying to give the country another chance to reach an amicable understanding with creditors. This would give them very beneficial terms to remedy their situation vis-à-vis capital markets." Read the full article in MailOnline.