Russia says wrote off 90 percent of North Korea's debt

Reuters News

9/18/2012 3:45:26 AM - Reuters News

MOSCOW (Reuters) - Russia has signed a deal to write off 90 percent of North Korea's $11 billion debt to Moscow, Konstantin Vyshkovsky, head of the debt department at the Finance Ministry told Reuters on Tuesday.

Vyshkovsky said the rest of the debt will be restructured and reinvested in Russian projects in North Korea.

(Reporting by Maya Dyakina; Writing by Lidia Kelly; Editing by Steve Gutterman)