Reeling from economic setbacks brought on by coronavirus and international sanctions, North Korea’s government has taken dramatic steps to increase state revenues. But given dwindling access to foreign currency and diminished cross-border business opportunities, efforts to tap domestic sources could come up against a headwind. 

Three recently introduced measures — a tax hike, a bond issuance, and an import squeeze — are rare but not without precedent. The severity of their impact will depend on the extent of the implementation, which remains to be seen. What’s most noteworthy at this stage is the synchronization of the three