IMF Evaluates Korea High

The International Monetary Fund(IMF) and Korea, on February 3, agreed to reduce the restructuring demands that the IMF imposed on Korea.
The IMF also positively assessed Korea's restructuring movement and agreed that maintaining low interest rates was necessary at this point in time.
The IMF revised Korea's situation to normal from emergency, and changed the quarterly regular meetings to twice a year.
In addition, the two sides agreed that the economic growth rate in 1999 should be 2 percent with no more than a 3 percent rise in the consumer price index.
The Ministry of Finance and Economics revealed the results of the two-week IMF visit.
It also released that Korea would be receiving 19 million dollars from the IMF as soon as the IMF Board of Trustee passes the motion in April.
The IMF strongly supported the Korean government's efforts on boosting the economy with low interest rates while accumulating as much of a trade surplus and foreign exchange reserve as possible.