The Washington Times
May 6, 2004

Mexico reminds Cuba of its debt

Mexico City, May. 6 (UPI) -- The Mexican government Thursday reminded Cuba of its debt of $450 million owed to the National Bank of Foreign Business, known as Bancomext.

The reminder came in the wake of a diplomatic rupture between the two governments.

Mexico and Peru decided last week to withdraw their ambassadors from Cuba following comments by Cuban President Fidel Castro criticizing both nations for supporting a recent U.N. resolution condemning Cuba's human rights record.

"This money will have to be paid," Fernando Canales Clariond, the Mexican secretary of the economy, said, according to the Mexican news agency Notimex.

The Mexican official added that the trade relations with Cuba can be normalized if Cuba accepts that for diverse reasons bilateral trade between Mexico and Cuba has been reduced.

Canales said that at the end of 2003, Cuba's trade deficit with Mexico was $122 million.

He said that until now, there have not been any important repercussions in financial dealings between Mexico and Cuba stemming from the diplomatic crisis.