European Parliament Library

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

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
Table Of Contents
Cover; Contents; Executive Summary and Staff Appraisal; I. Introduction; II. Recent Economic Developments and Outlook; A. Recent Economic Developments: Recovering from the Shock; Figures; 1. The Sudden Stop in Capital Flows; 2. The External Demand Shock; B. Outlook and Risks: A Drawn-out Recovery; Boxes; 1. Downside Risk Scenario: Another Bout of Global Risk Aversion; III. Policy Discussions; A. Fiscal Policy: Countering the Cycle while Safeguarding Sustainability; 2. Measures to Ensure Adequate Credit Flow: A Cross-Country Perspective
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (53 p.)
Specific Material Designation
Form Of Item

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