Madrid, May 4 (RHC)-- On Wednesday, Cuba and Spain signed accords to restructure Cuba's debt with the European country, which the two sides described as an important contribution to the development of bilateral economic, trade and financial relations.

The Cuban foreign ministry noted that the latest accords between Cuba and Spain are a direct result of the agreement reached in December 2015 between the Caribbean state and the Paris Club.

Last February, Cuba acknowledged Spain's active role in the negotiations towards a mutually beneficial agreement between Cuba and its European creditors.

The accords to restructure Cuba's debt with Spain were penned in Madrid by Cuban Vice President Ricardo Cabrisas Ruiz and Spain's Economy Minister Luis De Guindos Jurado.