South Korea wants EBRD to finance DPRK economic transition
No doubt the potential costs of North Korea’s economic transition occasionally keep South Korea’s finance minister awake at night…particularly when the international credit rating agencies review South Korea’s sovereign debt rating. So it is only rational that South Korea would seek to spread these potential costs as widely as they can.
Last week South Korea made a small pitch to the European Bank for Reconstruction and Development to facilitate the DPRK’s transition :
“I strongly recommend North Korea as a next candidate to become a recipient country, once it decides to transform itself into a market economy,” Young Geol Lee, vice minister of strategy and finance, said in a speech. “Please bear in mind that North Korea has great potentials as a future client of the EBRD.”
