Cuba wants to pay back its £222m debt to Czech Republic with Rum

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Cuba has reportedly offered an unusual way of repaying a debt from the Cold War-era – in trademark rum.

Michal Zurovec, spokesman for the Czech finance ministry, said that Cuban authorities have proposed to pay back US $276 million (£222m) owed to his country from the time both nations were part of the communist bloc.

If the Czechs agree to the plan, it would mean the country would have enough Cuban rum for well over a century.

According to the Czech statistics office, the Czechs imported rum from Cuba worth over US $2 million (£6.4m) last year.

Zurovec says the Czechs would still prefer the debt was at least partly paid in cash.

It’s not the first time a country has offered to pay its debts in goods instead.

In the past, North Korea wanted to repay a US $10 million (£8m) debt with products made with ginseng.

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