HAVANA (Reuters) - Russia and Cuba have quietly signed an agreement to write off 90 percent of Cuba's $32 billion debt to the defunct Soviet Union, a deal that ends a 20-year squabble and opens the way for more investment and trade, Russian and European diplomats said.
The two sides announced an agreement to settle the debt dispute earlier this year and finalised the deal in Moscow in October. It would have Cuba pay $3.2 billion over 10 years in exchange for Russia forgiving the rest of a $32 billion debt - $20 billion plus service and interest, the diplomats said.