Russia to Forgive Billions of North Korea’s Debt
by Richardson ~ November 29th, 2006. Filed under: Economics, Russia.Update: Russia is pleading ignorance to any knowledge of North Korea’s bribe:
“We were surprised to read the information in a Japanese newspaper. We don’t know where this information has come from and therefore will not comment on the rumors at this moment,” Rosatom spokesman Sergei Novikov told RIA news agency.
Original post: 
In mid-November the co-chairman of the intergovernmental Russia-North Korea commission on economic and scientific-technical cooperation, Konstantin Pulikovsky, stated that Russia would not forgive what was estimated to be North Korea’s $5 billion debt.
However today Russia’s Deputy Finance Minister, Sergei Storchak, announced that Russia likely will forgive 80-90 percent of what is now estimated to be North Korea’s $8 billion debt.
The latest decision estimated up North Korea’s total debt to Russia and reversed the commission’s decision regarding the debt. No reason was given for the change, but it likely was judged futile to try to extract such a large amount from the impoverished nation.
November 30th, 2006 at 12:58 am
I don’t blame them, they are trying to recoup 10-20 cents on the dollar (or ruble). 500million-1Billion back is better than zero, but my money is on them getting zero, because KJI is crafty statesmen with all the cards. (I ain’t paying, what are you going to do Russia? I got nukes, shall I tell the world what other technology you helped us with?)
November 30th, 2006 at 1:16 am
well said pavlov3.
i think i read somewhere that KJI is by far hands down the BEST, numero fricking UNO, blackmailer in the whole world!
he’s ruthless yet has some serious skills.
he’d get accepted in Harvard Business school ANY DAY!
November 30th, 2006 at 7:54 am
It’s a dope deal. Russia owes big bucks to South Korea. South Korea tells Russia to forgive North Korea’s debt and they call it even.
Poison a few guys who know too much, throw in some missile technology, Amazon, and you’re done!
November 30th, 2006 at 1:58 pm
I suspect Russia’s interest is much more direct. It is no secret that they are trying to connect South Korea and Europe’s railway systems. Writing off DPRK loans is a cheap way of paying off the DPRK government, particualrly if the Russians never expected to collect the money in the first place.
http://www.nkeconwatch.com/2006/11/30/russia-to-forgive-dprk-debt/
December 2nd, 2006 at 6:01 am
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