North Korean debt

North Korea News Today

Russia Writes Off $10 Billion of North Korean Sovereign Debt

September 18, 2012
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Making good on promises made with the late Kim Jong-il at a conference in Ulan-Ude, Siberia, Russia has announced today that it will forgive 90% of North Korea’s $11 billion dollar debt. While $10 billion will be written off immediately, another $1 billion will be spent toward mutual economic development projects. “The North Korean-Russian debt […]