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International

Sweden urges N. Korea repay 43-yr-old debts: report

13:10, Monday, 23 October, 2017
Sweden urges N. Korea repay 43-yr-old debts: report

Sweden has said North Korea is not responding to demands for the repayment of debts it has owed for more than 40 years, Voice of America reported Monday.

Citing the 2016 annual report compiled by the Swedish Export Credit Agency (EKN), VOA's Korean Service said North Korea's debts to Sweden currently amount to SEK 2.7 billion (around US$330 million) and account for 45 percent of the entire debt owed by 16 countries to Sweden.

The report also said that among the debtors, only North Korea has never implemented a debt repayment.

VOA said the North's debts to Sweden arose after it never came through with payment for 1,000 Volvos and several orders with other Swedish companies in 1974. The debts, originally amounting to SEK 600 million, have swollen to SEK 2.7 billion due to the accumulated interest.

Carina Kampe, press manager for EKN, told VOA that Sweden asks North Korea to repay the debts twice a year, but the North hast yet to respond to the demand. She added that it is Sweden's stance to have the North pay its debts.

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MAMUL.am
Karen
Karen 14:57, 23.10.2017
Eti partq chi exel, 1000 hat avton arela u qcela. Yani hyusisayini tandzina irenc partq, teche inj piti ani.