Russia wrote off the DPRK $ 10 billion from Soviet debt

Russia and the DPRK signed an agreement on the settlement of the North Korean debt, reports the Deputy Minister of Finance Sergei Storchak Agency Prime .

“They signed yesterday,” he said, explaining that we were talking about North Korea’s debt of $ 11 billion.

According to Storchak, we are talking about the duty that has remained since the collapse of the USSR.

The agreement implies a recount for rubles to dollars and the provision of a primary discount in the amount of 90% of the debt amount. The balance of debt in the amount of more than $ 1 billion will be used according to the “Debt for help” scheme in the fields of education, healthcare and energy in the implementation of joint projects in the DPRK.

Earlier, the media reported about the negotiations that had passed this year between the two countries on issues related to financial debt. Russia, according to the then common information, agreed to write off 90% of the debt - in exchange for investments in the energy sector of North Korea, as well as in projects related to the support of education and healthcare.