Thursday, July 31, 2014


Russia

North Korea Reports Debt Deal With Russia

North Korea's state news agency KCNA reports that Pyongyang and Moscow have signed a debt deal, although it gave no details of any of the terms.

North Korea is estimated to owe about $11 billion to Russia, racked up when it was a client state of the Soviet Union.

The two countries held talks on a debt settlement earlier this year, according to media reports.

Russian media reported that Moscow had agreed to write off 90 percent of the debt in exchange for the chance to invest in North Korean projects in the energy, health, and education sectors.


Based on reporting by Reuters

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