41.6 Billion Dollars in Foreign Debt is Due by Dec. 1999
Korea will have to repay a total of 41.6 billion dollars in foreign debt (15.2 billion dollars by the end of 1998 and 26.4 billion dollars in principal during 1999 ) by the end of next year.After that, Korea will have to reimburse 18.6 billion dollars in foreign debt in 2000, 15.3 billion dollars in 2001 and less than 10 billion dollars in 2002.
These figures were obtained from a report by the Ministry of Finance and Economy (MOFE) submitted to the National Assembly on October 18.
According to the report, as of the end of June, foreign debt totaled 101.6 billion dollars including 29 billion dollars by the public sector and 72.6 billion dollars by financial institutions.
Whereas, financial industry sources are estimating that the real foreign debt is higher because not all companies' foreign and overseas debt has been accounted for.
with the Korea JoongAng Daily
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