US, North Korea resolve Macau bank dispute

The United States and North Korea have resolved a dispute over $25 million (-19 million) in frozen North Korean funds that clears the way for progress in dismantling the North’s nuclear programs, US officials said Monday.

US Deputy Assistant Treasury Secretary Daniel Glaser said the funds would be transferred to a Bank of China account in Beijing to be used for education and humanitarian purposes in North Korea. Glaser said North Korea had proposed the arrangement. (AP)