Russia

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

17:56 29/11/2006

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.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/russia/20061129/56189984.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/russia/20061129/56189984.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;"> Russia to write off large part of North Korea's $8bln debt</strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">17:56</span> <span style="color:#5590bf; padding-right:7px;">29/11/2006</span> <span style="font-size:12px;">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. 
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Russia to write off large part of North Korea's $8bln debt

17:56 29/11/2006 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. >>

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