The Catalan business organization Foment del Treball has issued a strong warning regarding the increasing debt the Cuban government owes to around 300 Spanish companies, which totals over 350 million euros in unpaid debts since 2018.
In a statement released on June 12, Foment denounces that this debt directly impacts companies that have exported goods and services to the Caribbean country, often of a humanitarian nature and essential for the Cuban population.
The affected parties in Spain are primarily small and medium-sized enterprises (SMEs), as well as microenterprises, whose financial stability has been jeopardized.
Companies on the brink of collapse due to systematic non-payments
“The Cuban government has failed to meet its payment commitments for years,” emphasized Foment del Treball, which actively supports the Platform of Those Affected by the Government of Cuba's Defaults, a group of companies adversely affected that was initiated by the employers' association itself in 2023.
These debts, Foment explains, arise from export operations, many of which are linked to sectors such as healthcare and food, which further exacerbates the issue as these are considered essential goods.
Although the global volume exceeds 350 million euros, the organization notes that the figure could continue to rise in the absence of effective measures from the Cuban government.
“The unpaid debts mainly correspond to export operations, many of which are of a humanitarian nature”, emphasized the statement, which also recalls that this situation was officially acknowledged by the Secretary of State for Economy and Business Support, Ismael Arroyo, during his appearance before the Congress of Deputies in November 2024.
Devastating impact on employment and the productive fabric
The economic consequences are already dramatic.
According to the employers' association, more than 15% of the affected companies have had to close or cease their activities due to the financial strain caused by unpaid debts.
This translates to job losses, disruption of business operations, and the disappearance of a business structure that has contributed to Spanish foreign trade with Latin America for years.
“The financial situation of these companies is critical”, the statement reports.
Many of the affected companies have been unable to restructure their debts or find substitutes for their lost income, which has led them to collapse or face bankruptcy proceedings.
Catalonia, the hardest hit
Foment del Treball highlights that more than 40% of the affected companies are from Catalonia, making this autonomous community the hardest hit by the payment crisis. This overexposure is attributed to Catalonia's traditional export-oriented nature, which has historically maintained strong trade ties with Cuba.
"The Catalan business fabric has been greatly affected," the document noted, emphasizing that many of these companies acted as trusted suppliers in strategic sectors for the island, relying on a bilateral relationship that now seems to be broken.
A debt entrenched by the lack of foreign currency in Cuba
The root of the problem, warns Foment, lies in the prolonged economic crisis that Cuba is experiencing, exacerbated by the COVID-19 pandemic and the collateral effects of the war in Ukraine.
The shortage of foreign currency on the island has paralyzed international payments, leaving its creditors in Europe with no alternatives.
Despite the fact that Spain has historically been one of Cuba's main investors and trade partners, the current economic context has led to a unilateral breach of financial commitments by the Cuban regime, creating a situation of vulnerability for foreign companies.
Call to action to the Spanish Government
The Platform of Affected Individuals and the Catalan employers' association have repeatedly brought this issue to the attention of the Spanish Government, as well as to various parliamentary groups, with the aim of activating pressure and diplomatic negotiation mechanisms to recover the amounts owed.
"Urgently, mechanisms must be activated to recover the owed amounts and prevent the disappearance of the affected exporting business fabric,” Foment demanded, urging the Spanish State to intervene in defense of the interests of its companies.
Conclusion: an ignored crisis that threatens commercial confidence
The case of unpaid debts by the Cuban government has highlighted the risks that European companies face when operating in contexts of institutional instability and lack of legal guarantees.
The consequences not only affect the companies directly involved but also undermine international confidence in the commercial viability of Cuba as an economic partner.
Foment del Treball, in its statement, demands that immediate solutions be put on the table to stop the financial bleeding and to restore minimum conditions for international trade relations.
Meanwhile, hundreds of small and micro-enterprises in Spain continue to pay the price of a debt that seems to have no end in sight.
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