“Yesterday they signed,” he said, explaining that we are talking about North Korea’s debt in the amount of 11 billion dollars, reports RIA “News».
Earlier, Storchak reported that the Ministry of Finance of Russia in June planned to submit a draft resolution on signing the agreement to settle the DPRK’s debt for approval by the government. Deputy Minister of Finance of Russia 31 May - 2 June held talks with the Ministry of Finance of North Korea on debt settlement, Interfax reports.
As a result of the negotiations, the amount of the debt settled and the conditions remained the same, Storchak explained then. We are talking about 11 billion dollars in DPRK debt on loans provided by the former USSR. “Classical conditions (settlements) related to our participation in the Paris Club, recalculated into dollars at the corresponding rate, further primary discount, and the balance of the debt is used in the operations“ debt in exchange for help, ”said the deputy minister.
Storchak added that the balance is about 1 billion dollars. At the same time, he noted that we are talking about assistance in the field of energy, health and education.
Russia and the DPRK resumed negotiations to settle the debt in 2011 after a long break. Until 2007, the parties could not agree on a debt repayment scheme. In particular, the Russian Federation did not exclude the possibility of writing off part of the debt and providing installments to pay the remaining amount or repaying the debt in the form of investments.
In August 2011, the leaders of the Russian Federation and the DPRK, Dmitry Medvedev and Kim Jong Il, at a meeting in Ulan-Ude, developed approaches to solving the problem of North Korean debt.
Then Storchak said that the size of the debt of North Korea is 11 billion dollars. The loan was issued in Soviet rubles at the rate of 60 kopecks per 1 dollar.