English

10.4 billion dollars interest on S. Korea’s foreign debts

Pyongyang, February 2 (KCNA) — South Korea has to pay dlrs 10,482 million in interest on foreign debts within one year, according to a radio report from Seoul.

As of December 20 last year, it was saddled with 153 billion dollars of debts. Of this figure, short-term foreign debts which would mature in less than one year amounted to dlrs 80.2 billion and middle- and long-term foreign debts which would mature in more than one year ran into dlrs 72.8 billion.
Dlrs 25 billion of the short-term foreign debts will mature toward the end of this year.
Unable to pay the debts, the South Korean authorities have borrowed more money for debt-servicing, which has further driven them into an unretrievable crisis.

Image credit: https://www.flickr.com/photos/ninjawil/2498462905/

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