Tag Archives: lfnkr activities
LFNKR Annual Report Released for 2011
Introduction
The new currency system initiated in November 2009 by North Korea has led to serious confusion in the country’s economy. As a result, poverty continues to deepen. Around November 2010, even in Pyongyang where relatively privileged people live, the supply of food has stopped. The currency revaluation slashed the currency to 1/100 of its previous value, but by March 2011, the price of rice per kilogram had risen to 1800 NKW. This is the same price it was before currency reform, and it indicates a complete failure of the government’s plan to suck money from its citizens.