Cuba's debt to the creditors of the Paris Club has surged once more in 2025, reaching a staggering $4.795 billion. This indicates the regime's ongoing struggle to address one of its critical financial issues, despite repeated renegotiations in recent years.
This information is detailed in the 2025 Annual Report of the Paris Club, which highlights that official claims against the island have risen by $171.5 million since the end of 2024, when they stood at $4.624 billion.
Out of the total debt, $300.8 million is attributed to Official Development Assistance credits, while $4.494 billion is owed through other official loans. These loans account for more than 93% of the debt claimed by creditors.
As a result, Cuba ranks as the third largest debtor in Latin America and the Caribbean to the Paris Club, trailing only behind Venezuela, with a debt of $8.927 billion, and Colombia, which owes $5.108 billion.
Recent Debt Renegotiations
Just months before this increase, Cuban regime representatives and the Group of Creditors of Cuba convened in Paris in January 2025 to once again amend the terms of consolidation agreements established in 2015 and 2021.
During that meeting, the Paris Club asserted that the newly arranged terms would provide Cuba with "better conditions to tackle its economic and financial challenges in the upcoming years." However, the organization did not announce any reduction in the owed amount or a revised payment schedule. The aim was merely to facilitate the fulfillment of existing commitments.
A History of Renegotiations
For over a decade, the financial relationship between Cuba and the Paris Club has been characterized by ongoing renegotiations. In December 2015, both parties reached an agreement to restructure a debt that was then $11.1 billion, including late payment interest. As part of the deal, creditors agreed to gradually cancel $8.5 billion in accumulated interest, provided Havana paid the remaining $2.6 billion over an 18-year period.
The pandemic-induced crisis led the regime to seek another renegotiation in 2021, granting more time to meet several overdue payments. However, the Paris Club made it clear that this did not entail a reduction of the debt.
The Group of Creditors of Cuba includes nations such as Australia, Austria, Belgium, Canada, Denmark, Finland, France, Italy, Japan, the Netherlands, Spain, Sweden, Switzerland, and the United Kingdom. Notably, the United States is not part of this mechanism.
The figures released by the Paris Club pertain solely to claims from official creditors and do not encompass Cuba's other external commitments or late payment interest.
Frequently Asked Questions About Cuba's Debt to the Paris Club
What is the current amount of Cuba's debt to the Paris Club?
As of 2025, Cuba's debt to the Paris Club has reached $4.795 billion.
How does Cuba's debt compare to other Latin American countries?
Cuba is the third largest debtor in Latin America and the Caribbean to the Paris Club, following Venezuela and Colombia.
Which countries are part of Cuba's Group of Creditors?
The Group of Creditors includes Australia, Austria, Belgium, Canada, Denmark, Finland, France, Italy, Japan, the Netherlands, Spain, Sweden, Switzerland, and the United Kingdom.