Russia to write off large part of North Korea's $8bln debt

Deputy Finance Minister Sergei Storchak said the country's debt to Russia was estimated at $8 billion. "I believe it will be a large write-off," Storchak said, responding to a question on whether Russia will forgive 80-90% of North Korea's debt.

MOSCOW, November 29, (RIA Novosti) - Russia's Finance Ministry said Wednesday it plans to launch talks in a few weeks on writing off a major portion of North Korea's debt.

Deputy Finance Minister Sergei Storchak said the country's debt to Russia was estimated at $8 billion.

"I believe it will be a large write-off," Storchak said, responding to a question on whether Russia will forgive 80-90% of North Korea's debt.