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Cuba's precarious economic position is complicated by the high price it must pay for foreign financing. The Cuban Government defaulted on most of its international debt in 1986 and does not have access to credit from international financial institutions like the World Bank, which means Havana must rely heavily on short-term loans to finance imports, chiefly food and fuel. Because of its poor credit rating, an $11 billion hard currency debt, and the risks associated with Cuban investment, interest rates have reportedly been as high as 22%. In 2002, citing chronic delinquencies and mounting short-term debts, Moody's lowered Cuba's credit rating to Caa1 -- "speculative grade, very poor." Dunn and Bradstreet rate Cuba as one of the riskiest economies in the world.  

Cuba's precarious economic position is complicated by the high price it must pay for foreign financing. The Cuban Government defaulted on most of its international debt in 1986 and does not have access to credit from international financial institutions like the World Bank, which means Havana must rely heavily on short-term loans to finance imports, chiefly food and fuel. Because of its poor credit rating, an $11 billion hard currency debt, and the risks associated with Cuban investment, interest rates have reportedly been as high as 22%. In 2002, citing chronic delinquencies and mounting short-term debts, Moody's lowered Cuba's credit rating to Caa1 -- "speculative grade, very poor." Dunn and Bradstreet rate Cuba as one of the riskiest economies in the world.  

===Health-care===

==Health-care==

Health care in Cuba follows the model of [[socialized medicine]]; all doctors are employees of the government, and the government does not charge citizens for health care, though many believe the services provided are alarmingly inferior for anyone but the party elite. [[Fred Thompson]] wrote:

Health care in Cuba follows the model of [[socialized medicine]]; all doctors are employees of the government, and the government does not charge citizens for health care, though many believe the services provided are alarmingly inferior for anyone but the party elite. [[Fred Thompson]] wrote:

:''"Castro won't allow observers in to monitor his nation's true state, but defectors tell us that many Cubans live with permanent malnutrition and long waits for even basic medical services. Many treatments we take for granted aren't available at all -- except to the Communist elite or foreigners with dollars. For them, Castro keeps "show" clinics equipped with the best medicines and technologies available."''<ref>{{cite web|url=http://www.townhall.com/columnists/FredThompson/2007/05/03/the_myth_of_cuban_health_care&Comments=true|title=The myth of Cuban health care|author=Fred Thompson|date=2007-05-03|accessdate=2007-08-14|language=English|format=HTML|work=Townhall.com}}</ref>

:''"Castro won't allow observers in to monitor his nation's true state, but defectors tell us that many Cubans live with permanent malnutrition and long waits for even basic medical services. Many treatments we take for granted aren't available at all -- except to the Communist elite or foreigners with dollars. For them, Castro keeps "show" clinics equipped with the best medicines and technologies available."''<ref>{{cite web|url=http://www.townhall.com/columnists/FredThompson/2007/05/03/the_myth_of_cuban_health_care&Comments=true|title=The myth of Cuban health care|author=Fred Thompson|date=2007-05-03|accessdate=2007-08-14|language=English|format=HTML|work=Townhall.com}}</ref>

The country's chief neurosurgeon, [[Hilda Morina]], publicly protested the government's role in the deterioration of the health care system.

The country's chief neurosurgeon, [[Hilda Morina]], publicly protested the government's role in the deterioration of the health care system.

===Education===

==Education==

[[Image:Niñas en el Malecón de La Habana.jpg|right|200px]]

[[Image:Niñas en el Malecón de La Habana.jpg|right|200px]]

According to the CIA World Factbook, the education system has achieved a 97% [[literacy]] rate on the island.<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/geos/cu.html|work=Central Intelligence Agency The World Factbook|title=Cuba|accessdate=2007-08-14|date=2007-07-19|language=English|format=HTML}}</ref>  

According to the CIA World Factbook, the education system has achieved a 97% [[literacy]] rate on the island.<ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/geos/cu.html|work=Central Intelligence Agency The World Factbook|title=Cuba|accessdate=2007-08-14|date=2007-07-19|language=English|format=HTML}}</ref>