Republic of Korea: 2009 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Korea

International Monetary Fund

No 2009/262, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2009 Article IV Consultation highlights that like other open economies, Korea was hard hit by the global financial crisis during the last quarter of 2008. The authorities responded with a timely and comprehensive set of financial market and macrostabilization measures. Executive Directors have commended the authorities for their speedy and comprehensive measures, which have successfully stabilized the economy and the financial system. Directors have also supported the sizable and frontloaded fiscal stimulus package and the intention to maintain fiscal stimulus in 2010 given the uncertain outlook.

Keywords: ISCR; CR; July trade data; export recovery; authority; authorities project; recovery; staff appraisal; bank recapitalization fund; Fiscal stimulus; Credit; Housing prices; Government finance statistics; Global; Asia and Pacific (search for similar items in EconPapers)
Pages: 52
Date: 2009-08-20
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