Spain to Restructure Cuban Debt - Minister

Spain is also arranging a 50-100 million euro credit line for Cuba to help the island rebuild its infrastructure.

Spain will begin talks soon to restructure Cuba's debt to ease trade between the two countries, Spain's Foreign Minister said on Tuesday, and is to offer credit of up to 100 million euros to help pay for hurricane damage.

"The Cuban government wants to begin repayment as soon as the new terms are fixed," Miguel Angel Moratinos told a news conference, declining to comment on the size of the debt pile, being restructured or provide further details. Cuba suspended debt payments in 2001.

Spain is also arranging a 50-100 million euro credit line for Cuba to help the island rebuild its hurricane-damaged infrastructure.

Hurricanes Gustav and Ike ripped through Cuba within 10 days of each other in late August and early September, causing $5 bln worth of damage and affecting 500,000 homes, according to the Cuban government.

Spain is Cuba's third-largest trading partner with commercial flows between the two countries amounting to about $1 billion a year.