Lot 332: DS in Spanish, signed "Che," one page, 14 x 10.75, May 30, 1960. Cuban National Bank bond for 1.5 million pesos, consolidating the national debt. Signed at the conclusion by Guevara as president of the bank. In fine condition, with a central vertical fold and a cancellation stamp and holes to the center. The bonds, which paid 4% interest, were to mature after fifteen years in 1975. Due to the rapid nationalization of industry in Cuba as well as Guevara's mismanagement of the national bank, these bonds quickly lost value in the market, complicating the country's efforts to refinance its sovereign debt. A trade embargo imposed by the United States further complicated matters, forcing Cuba to become financially dependent on the Soviet Union for support.
RR Auction's Fine Autographs and Artifacts Auction 458
Wednesday, 12th August 2015
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