External Liabilities in Decline

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External Liabilities in Decline

The Ministry of Finance and Economy said Friday that the amount of total external liabilities was $128.7 billion as of the end of May. The amount was lower by $500 million compared to April. The amount of total external liabilities has been declining for 10 consecutive months since August 2000.

The amount of long-term foreign debt was decreased by $700 million, but short-term foreign debt went up by $200 million. The ratio of short-term foreign debt to the foreign exchange reserve was 45.8 percent in May. As of May, Korea lent $163.1 billion to foreign countries, an increase of $600 million won from April.
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