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

September 1, 2010

Preview Citation

Format: Chicago

Republic of Korea: Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Republic of Korea, (USA: International Monetary Fund, 2010) accessed November 23, 2024

Summary

The swift and decisive policy response of Korea has contributed to an impressive economic recovery from the financial turmoil. Executive Directors welcomed the well-calibrated and gradual exit strategy while aiming to achieve strong and sustainable long-term economic growth. Directors welcomed the National Fiscal Management Plan (NFMP) and the National Debt Management Plan (NDMP). They encouraged the authorities to introduce bolder reforms to raise productivity in the nontaxable sector and also to establish Food Safety System Certification (FSSC). They suggested that increased labor market flexibility and social protection would also help facilitate the rebalancing of the economy.

Subject: Asset prices, Banking, Central bank policy rate, External debt, Financial crises, Financial services, Inflation, Prices

Keywords: Asset prices, Central bank policy rate, Core inflation, CR, Economy, Europe, Financial market development, Global, Growth potential, Headline inflation, Household debt, Inflation, Inflation pressure, Interest rate, Investment plan, ISCR, Southern Europe

Publication Details

Pages:

45
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/270
Stock No:

1KOREA2010002
ISBN:

9781455204304
ISSN:

1934-7685

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