18.66 Billion Dollar Long Term Foreign Debts Due by First Half Next Year

Korea's long term foreign debts, due by the end of the first half of next year, are estimated to reach 18.66 billion dollars.
These figures were obtained from a report entitled the current international finance market by the Ministry of Finance and Economy (MOFE) on September 16.
MOFE forecasted that long term foreign debts which will be due are 5.98 billion dollars in the fourth quarter of 1998, 4.77 billion dollars in the first quarter of 1999 and 7.91 billion dollars in the second quarter.
By sectors the debt breakdown is as follows: public sector's debts including the IMF's bail-out 8.74 billion dollars, Korean financial institutions' 7.28 billion dollars and private sector's (almost companies) 2.64 billion dollars.
MOFE explained that Korea could reimburse the debts easily by way of a trade surplus and overseas sales of the Korean companies' assets.