Cuba offers to pay multi-million-dollar debt in rum

Cuba has decided to try and pay back it $375m debt to the Czech Republic in liquid currency after offering rum to the European country.

The Czech finance ministry said Havana brought the unusual proposal to the table during recent negotiations regarding the costly debt, BBC reports.

Among its finely rolled cigars and collection of classic vintage cars, Cuba is famous for its Havana Club rum.

While the Czech Republic was open to the idea of the trade, Prague said it would like to get at least some of its debt paid back in old fashioned currency.

Havana said if rum wouldn't completely cover the debt it was more than happy to offer the European country a wide range of pharmaceutical drugs.

Cuba's debt with the former nation of Czechoslovakia dates back to the Cold War when both states were communist allies.