Russia to forgive 11 billion dollars in North Korean debt

Russia has signed a compact with North Korea that will write off 90 percent of the debt the DPRK has accrued since the Cold War, and will reinvest the remaining 10 percent back in the reclusive Asian country. The total debt forgiven is approximately $11 billion.

AFP reports that in May, Russian Finance Minister Sergei Storchak made a rare visit to discuss settling the outstanding debt. Storchak said that the remaining $1 billion left will be invested in a "debt-for-aid" program, according to the Wall Street Journal.

www.businessinsider.com...

Nice gesture. Even though I'm sure the North Koreans weren't paying it back regardless.

UN's food-aid to the nation, I'm sure wasn't that much. Yet I don't think it's getting food them, it's them actually accepting it that sometimes has been the challenge, in their defiance.

Russia did just reveal their estimated 3 trillion dollars in diamonds mine under an old impact crater.

reply to post by CALGARIAN


Russia, China, India, North Korea, Iran, Syria vs USA

looks like the east is going to deliver a heavy smackdown on the west if america doesnt take a seat.

The times they are a changin!!!

It's just a way for Russia to unload all the Yankee dollars they have so they can stock up on the Chinese R.M.B.

Originally posted by 0mage
reply to post by CALGARIAN

 

Russia, China, India, North Korea, Iran, Syria vs USA

looks like the east is going to deliver a heavy smackdown on the west if america doesnt take a seat.

Who cares if USA take a seat or not. Its when Israel take a seat thats matter.

What would make a more interesting story would be if they allowed North Korea to be the middle man for the future diamond trade with the current findings they came across.

Give Nth Korea a nice cut and see how others feel about that.

Originally posted by 0mage
reply to post by CALGARIAN

 

Russia, China, India, North Korea, Iran, Syria vs USA

looks like the east is going to deliver a heavy smackdown on the west if america doesnt take a seat.

I'm glad I'm not the only one sensing a building group of nations...whether openly declared or not....ready to move largely as one and our Government is willfully oblivious while blundering right on across lines it's coming to be the world laying down.

Interesting timing on this....very interesting timing. Putin is old school and a real Cold War kinda guy. Everything for a reason and everything communicates something. In this case, I'd take it to mean North Korea is not sitting out there entirely alone and they are a part of what's happening overall. We'll see... Maybe Iran is the nation making the high grade material while the DPRK is refining it the final steps into usable cores. All kinds of possibilities I don't think anyone is slowing down enough to consider.

I want you to remember Russia sent its entire Atlantic and Pacific Naval Fleets to Union ports to help Lincoln defeat the States Rights movement in America.

Not long after that Russia and America did the "Boxer Rebellion" where they defeated China and made them pay a million tons of silver in reparations to the white boyz.

Then WWII, Russia and the US were allies.

The only reason they tricked the world after WWII that there was a "Cold War" was to get at more of the worlds resources...make other countries think they needed to help Russia or the US for their own survival. The world got conned.

Especially the Korean peninsula.....Do you think those Koreans will ever realize they got played? Nope. Russia did a good job brainwashing North Korea that they needed to make their leader a God....and sucked them for everything they could....that's all they had left......make their leader a god. Now there's barely 10 million North Koreans alive and after this winter they'll be lucky if half survive.


Russia only forgave that "debt' because North Korea won't have much of a population that will survive this winter.
North Korea was a successful test of how much you could suck from a society....and still keep that society together to keep sucking from.

Or do you think my theory is hogwash?

Looks like North Koreans will be on the move to be diamond miners from now on.
Thats how I connect your news.

That sounds only fair but can't be published as such.
North Koreans will be so happy and greedy at the same time to help out Russia again.

Swift return on 11B, kudos to Russian money management.

Originally posted by 0mage
Russia, China, India, North Korea, Iran, Syria vs USA

You don't have a clue do you? Why would the biggest democracy (India) side with some of the world's last remaining autocracies? They would gain nothing.

To OP. The Russians have probably realised that they will get more mileage from writing off debt to the crack-pot North Korean regime, than by hanging on to it. North Korea needs food aid, rather than sympathy. The NK regime is so backward it cannot feed its own people.

Regards

reply to post by 0mage


Geeze, that was harsh. But not as harsh as reality if the us does not stand up and change directions fast.

reply to post by paraphi


Probably has to do with geographic's firstly and then demographics secondly.