Russia and North Korea agreed to settle the debt by $ 11 billion

Russia and North Korea agreed to settle the debt by $ 11 billion
# 18 September 2012 12:38 (UTC +04:00)
Baku - APA-Economics. Russia and North Korea on Monday signed an agreement to settle the North Korean debt to Russia. According to Deputy Finance Minister Sergei Storchak, it is a debt of $ 11 billion, APA reports citing RIA Novosti.

Storchak previously explained that the settlement means the conversion of rubles into dollars, providing primary rebate of 90% of the debt amount.
Remaining debt of more than $ 1 billion will be used by the scheme « debt in exchange for help” in the areas of education, health and energy the implementation of joint projects in North Korea.
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THE OPERATION IS BEING PERFORMED