Korea Puts Dent in Foreign Debt
Korea's total foreign debt, comprising both public and private sector liabilities, fell by $1.8 billion in March to $129.8 billion, its lowest level since the foreign exchange crisis hit in 1997, the Finance Ministry said Friday.The total owed to creditors abroad was lightened by an early repayment by the government of $800 million to the International Monetary Fund and $1.8 billion of overseas loans paid off by financial institutions.
"The country's foreign debt position is being managed steadily and is meeting the World Bank standard," a source from the ministry said.
with the Korea JoongAng Daily
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