Is anyone else concerned with IMF's interest in S.
Korea?
Hilary
S.Korea to Repay $1 Billion to IMF
Monday, January 4, 1999; 7:30 a.m. EST
SEOUL, South Korea (AP) -- South Korea will
repay $1 billion more in loans from the International Monetary Fund this week,
the Ministry of Finance and Economy said today.
The government will repay the loan on its maturing date Friday, ministry officials said.
It will be South Korea's second repayment to the IMF, following a payment of $2.8 billion in December.
South Korea was forced to accept an IMF loan in late 1997 to bail out its faltering economy, but has received only $28.7 billion of the $58 billion package.
The nation began repaying part of the money last month as its trade and current account surpluses grew.
© Copyright 1999 The Associated Press
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