Paper to crush the paper tigers

Never let it be said that communists are out of touch with market reality - North Korea, sensing an opportunity to finance itself is to issue its first bond. Ruling party daily Rodong Sinmun says the bond issue "is an important measure to raise funds" to "crush US imperialists", a pitch that is sure to play well with investors.

Never let it be said that communists are out of touch with market reality – North Korea, sensing an opportunity to finance itself is to issue its first bond. Ruling party daily Rodong Sinmun says the bond issue “is an important measure to raise funds” to “crush US imperialists”, a pitch that is sure to play well with investors.

The 10-year People’s Life Bond, will be principally aimed at domestic retail investors. North Korea’s finance minister, Mun Il-bong, says North Korea needs to “fully tap inner resources” in order to make the country “an impregnable fortress” and “train the people’s army as an invincible army”.

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