N. Korea may move to issue public bonds for the first time in 17 years
For the first time in 17 years, North Korean authorities may be planning to issue public bonds to alleviate the shortage of foreign currency in the country, Daily NK has learned.
High-level government officials recently gathered to discuss the issuance of bonds, according to Daily NK sources on Apr. 8.
Daily NK sources reported that a move to issue public bonds stems from the country’s lack of money to finance major national projects, such as the building of the Pyongyang General Hospital.
ABSORBING FOREIGN CURRENCY
The last time North Korea floated bonds was in 2003 following the implementation of the July 1 Measures. The country’s flotation of bonds at the time achieved some success in securing funds for the regime and was largely aimed at individuals. ......
[Source: Daily NK]
