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North korea's Volvoskuld continues to grow – now over three million

It has been 24 years since the payment was issued. As for the debt to be paid, and the amount of the count up with the variable rate of interest each and every

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North korea's Volvoskuld continues to grow – now over three million

It has been 24 years since the payment was issued. As for the debt to be paid, and the amount of the count up with the variable rate of interest each and every year, there is an ever-growing mountain of debt. By now the debt had grown to about 3.2 billion. In the same period of last year, was a liability of approximately 2.8 billion for the year.

" We have an agreement in which they pledged to pay it back. Only time will tell what's going on, but the ambition is to get back, " he Explains.

it has been modernised, has Volvobilarna have disappeared from the streets of the capital. In the smaller cities of the reels still on.

this is The latest installment came at the end of the 1980's. Then it was a few, according to Stefan Karlsson. North korea's lack of willingness to communicate, the situation will be particularly precarious.

" It's a jättesvår of the situation. We are trying to have a dialogue with the representatives of the Dprk, in which the Swedish embassy in Pyongyang to play a big part in this.

" the way it is. At the same time, the Dprk has a very hard up with cash. Sweden is not the only country that north Korea is in debt to, " he Explains.

as A Volvo 144, photo taken in Pyongyang in 2005. Nowadays, the scrolls of the old Volvos that were sent to Korea in 1974, only in the smaller cities and towns. Photo credit: BENJAMIN PETERSON


by Stefan Karlsson, comparing the current situation with the debt crisis, large parts of Africa and Latin america went through in the 1980's. By then, many of the countries at the paris club, a forum for public and publicly-guaranteed loans are negotiated when a country has had great difficulties. North korea, however, has not shown any indication of wanting to renegotiate the contract.

in practice, that the creditor regularly informs the debtor of how much the debt is, by aviseringsbrev. This means that in Sweden on a regular basis reminding north Korea of the debt.

" They have never denied the fact that they have a amount to be paid, but it is well aware of this. However, their ability to pay, now that is bad. However, we do have a small claim, it is just a matter of circumstances and timing is right.

Cuba is the country with the second highest debt-to-Sweden, slightly more than 2.1 billion dollars. Third on the list is Pakistan, which is guilty of some € 600 million.

for more information, see the Unpaid-volvo cars is one of the reasons for north Korea to have confidence in Sweden.

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