The payment record is unusual for Cuba, which owes billions of dollars to countries that have been selling it food during the embargo.

The proceeds will go to creditors who are still owed billions of dollars following the bank's spectacular collapse in September 2008.

The power companies are owed billions, but the state has accused them of price-gouging.

The banks still owe billions and are running out of money there is a 99% chance they will need more state help.

In 1929 the rest of the world owed billions to us.

Try to follow along at home: The state owed billions in accrued missed payments to its pension system.

Argentina still owes tens of billions to private lenders, even after a debt restructuring in March.

"Arts organizations can't owe billions because no one will lend them that much," he said.

"Russia still owes us billions of dollars they haven't paid back."

Finally, the government owes tens of billions of dollars in public debt to foreigners.