The chief of the International Monetary Fund on Wednesday said Korea’s economy has suffered the tiniest damage in the OECD from the coronavirus crisis.
IMF Handling Director Kristalina Georgieva made the remarks in a virtual conference with Financing Minister Hong Nam-ki.
According to the Financing Ministry, they went over methods to strengthen cooperation in between Korea and the IMF and how Korea has actually responded to the epidemic.
Georgieva said Korea has suffered the least financial damage in the bloc of abundant nations thanks to its rapid reaction to the coronavirus break out.
Just Recently, the IMF predicted the Korean economy will contract by 1.9 percent this year, the 2nd best outlook in the OECD after Lithuania’s -1.8 percent.
Hong said Korea has been able to decrease damage from the epidemic with “balanced financial measures” by implementing four extra budget plans in addition to effective quarantine measures.
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