Ann: Organisational Changes, page-56

Shouldn't you be panicking on real facts and not make believe that cuba has huge foreign reserves

In 2008, Sherritt entered into a conditional sales agreement with Energas to construct additional electrical energy capacity in Cuba, under which Energas was required to repay certain amounts advanced. However, due a number of events, including periods of low commodity prices, increased sanctions by the US government, and the covid-19 pandemic, access to foreign currency in Cuba to make payments on the liability had been significantly restricted.Similarly, in regards to the trade receivable from CUPET, the lack of access to foreign currency has limited CUPET’s ability to pay amounts owing to Sherritt.The cobalt swap provides a mutually beneficial arrangement to pay down the outstanding receivables in a reasonable timeline without relying on Cuba’s ability to access foreign currency, Sherritt said.