February 28, 1978
TELEGRAM 066.569 from the Romanian Embassy in Pyongyang to the Romanian Ministry of Foreign Affairs
This document was made possible with support from ROK Ministry of Unification
To: the Romanian Ministry of Foreign Affairs (Comrade Constantin Oancea; Ion Ciubotaru)
From: the Romanian Embassy in Pyongyang
Date: February 28th, 1978
The First Secretary of the Indian Embassy in Pyongyang, D. Singh, mentioned that the People’s Republic of China granted a loan of 100 million US dollars at the end of 1977, in order to partially pay the current debts that Democratic People’s Republic of Korea owes some Western countries.
Regarding the discussions of financial problems, a delegation from the Korean Bank of Foreign Trade is currently in Sweden, Switzerland, and Finland.
In this context, the Indian diplomat said that in the last few months the Swedish and Finnish governments had put pressure on Democratic People’s Republic of Korea to pay the debts accumulated in the last few years, threatening to cease any technical assistance and close the Swedish and Finnish embassies and the economic sections in Pyongyang.
The Swedish and Finnish governments pressure the DPRK to pay back its debts, while the PRC grants North Korea a loan to partially offset these costs.
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