2015-04-12 9:39 Author: Andrew Zwoliński, ( PAP)
After the Summit of the Americas in Panama, President Barack Obama said that his conversation with the leader of Cuba Raul Castro was sincere and fruitful. The presidents met on Saturday on the sidelines taking place in this country Summit of the Americas. This is a historical first for more than half a century of direct conversation leaders US and Cuba. Cuban Foreign Trade Minister Rodrigo Malmierca Diaz announced before the top 246 list of investment projects for a total of $ 8.7 billion and appealed to foreign investors with the widest possible participation in their implementation.
– We are able to honestly talk about the differences between us – Obama said on Saturday evening, local time, at a press conference. He added that he is different from Raul Castro’s views on the organization of society.
The US president also said that Cuba is not a threat to the US, and the majority of Americans support his policy towards Havana.
Obama signaled that he would soon take a decision on the deletion of Cuba from the list of terrorism sponsors.
optimist in terms of the development of US-Cuban relations is also Raul Castro. There may be differences, but the main difference is the mutual respect of each party – said the president of Cuba.
– We are ready to talk about anything, but we need to be patient – said Castro.
He informed the White House, US presidents talk Panama and Cuba took about an hour and focused mainly on the reopening of embassies.
The last direct exchange of views took place between the leaders of the United States and Cuba in 1956, five years before the rupture of diplomatic relations.
The presence of Obama and Castro in Panama is the culmination of warming on the line between Washington and Havana, announced in December 2014, after 18 months of secret talks on the end of the Cold War, the US-Cuban and the restoration of diplomatic relations.
Havana counts on the influx of nearly $ 9 billion
Foreign Trade Minister Rodrigo Malmierca Diaz Cuba announced before the top 246 list of investment projects for a total of $ 8.7 billion and appealed to foreign investors with the widest possible participation in the their implementation.
– Cuba strives to take advantage of opportunities associated with foreign investments to stimulate economic growth – Malmierca said.
The list includes the most diverse projects, from breeding farms pig car factory. Malmierca said, moreover, that in order to attract foreign capital is expected relaxation of legal restrictions on investment and the creation of a special shopping zone around the new seaport built west of Havana.
The call for foreign investment is an excerpt provided for four years the process of economic reforms, which aims to stimulate its development through the introduction of private enterprises and foreign capital.
Cuba overlooks the simple
Moody’s estimated that the normalization of relations US and Cuba will increase the creditworthiness of the island and compensate for potential losses arising from the expected reduction in assistance from Venezuela, whose economy is in crisis.
According to the report, Moody’s announced in December by Washington and Havana decision on the establishment of diplomatic relations calls within the next year or two positive effect on the Cuban economy and breathes in her new life.
Analyst Moody’s Jaime Reusche writes that this stimulus can offset the anticipated reduction in aid it receives Cuba from Venezuela, which enters a phase of the crisis.
The White House announced December 17 decisions on the restoration of diplomatic relations severed in 1961, and announced in Congress to take action to abolish economic embargo against Cuba, established in the early sixties. Moody’s assesses the current creditworthiness of Cuba as a Caa2, ie. Very low, burdened with a very high risk.
January 13, Moody’s lowered the rating for Venezuela from Caa1 to Caa3. Ca level is similar to the risk of default.
In 2013,. – Report reminds Agency – Cuban economic growth was 2.7 per cent., But it was closed last year at 0.8 per cent., Which in the assessment of the agency was due to a slowdown in economic reforms on the island.
Moody’s evaluates it in its analysis as a consequence of the crisis, which is going through the economy Venezuelan, and lasting from the end of September drastic decline in oil prices.
Cuba is dependent on Venezuela, as regards the greater part of it imported oil. According to the quoted report by the end of 2014. Venezuela supplies to Cuba decreased to 70 000 barrels per day, while a year earlier, they amounted to 100 000 barrels a day.
However, the tourism sector in Cuba, which is second only to the export of medical services source of income for the island, requires significant investments, Moody’s believes that Cuba has a chance to become more competitive in the field of tourism high class.
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