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Food

The Cuban Government Tried to Use Rum to Pay a $276 Million Debt

Rum was just one of the commodities that Cuba has offered to the Czechs.
Photo via Flickr user Chris Brown

Every year, during major sporting events, mayors and governors of the cities and states involved always make some ridiculous bet on the outcome of the game. For example, Ohio Senator John Kasich sent some of Cleveland's finest beer and mustard to Illinois Governor Bruce Rauner after the Cubs beat the Indians in the World Series. But Cuba is trying to use one of its most famous products not because of a baseball game, but because the country has to pay off a long-standing, high-dollar loan it received from the Czech Republic. And it wants to do it with rum.

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Cuba owes the Czech Republic an estimated $276 million, a nine-figure throwback that dates back to their shared Communist past, when the Czech Republic was still part of the eastern Soviet bloc. (Kids, ask your parents what Czechoslovakia was). "[Cuba's] current debt consists of several parts—various types of goods, investments, and also direct financial loans," Kateřina Vaidišová, a spokesperson for the Czech Ministry of Finance told MUNCHIES. "Everything comes from the era of the Comecon (Council for Mutual Economic Assistance)."

Rum was just one of the commodities that Cuba has offered to the Czechs: it also suggested that it could throw in some pharmaceuticals. (Cuba is basically your college roommate, trying to pay you back for that time he blew out your speakers). Although government officials haven't ruled out Cuba's unorthodox ideas, it would like to get some actual money, too. Katerina Vaidisova, a spokesperson for the Czech Ministry of Finance, told CNBC that her office "believes that at least part of the debt should be dealt in cash."

The Guardian quotes a Czech newspaper as reporting that, last year, the country imported 892 tons of Cuban rum, with a value of $2 million. That means if Cuba can settle the balance with booze, the Czech Republic will be stocked up on rum for around 130 years.

We never thought we'd get to shout the words "Party at the Ministry of Finance!" But, uh…party at the Ministry of Finance, maybe!