Castro denies 'Forbes' report on his wealth

Fidel Castro holds an issue of Forbes magazine while addressing the nation via television in Havana

Fidel Castro holds an issue of Forbes magazine while addressing the nation via television in Havana

Cuban President Fidel Castro has said he would resign if it is proven that he has large amounts of money in foreign bank accounts, as claimed in a recent magazine article.

President Castro has denounced as "rubbish" the report that appeared in Forbesmagazine earlier this month, naming him one of the world's wealthiest rulers.

In an article entitled "Fortunes Of Kings, Queens And Dictators," Forbesput Castro in 7th place in a group of 10 world leaders with "lofty positions and vast fortunes".

The magazine estimated Castro's personal wealth to be $900 million - nearly double that of the $500 million of Britain's Queen Elizabeth II and just under Prince Albert II of Monaco's estimated $1 billion.

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The article also referred to rumours of Castro having "large stashes in Swiss bank accounts."

"All this makes me sick," Castro responded yesterday in an appearance on the communist government's daily public affairs programme. "Why should I defend myself against this rubbish?"

Later on the programme, Castro pounded the table, saying, "If they can prove I have an account abroad . . . containing even one dollar I will resign my post."

Castro also gave the floor to several top officials, including Central Bank President Francisco Soberon, to deny the claims and defend his integrity.

In explaining its calculations, Forbessaid it assumed Castro has economic control over a web of state-owned companies including a convention centre, a retail conglomerate and an enterprise that sells Cuban-produced pharmaceuticals.

AP