Thursday, 20 September 2012


Russia Signs Deal with North Korea to Write Off 90% of North Korea's $11 Billion Debt to Moscow

'North Korea said Tuesday that it had signed an agreement with Russia settling an estimated $11 billion debt owed by Pongyang that dates back to the Soviet era.
The North's state news agency KCNA said the agreement was signed Monday in Moscow, but gave no details of the terms involved."The North-Russian debt adjustment pact will pave the way for the two countries to further expand economic cooperation between them," the KCNA report said.'