Short-term external debt falls to lowest levels in eight years

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Short-term external debt falls to lowest levels in eight years

The ratio of Korea’s short-term external debt to foreign reserves fell to the lowest level in nearly eight years by the end of September as foreign reserves grew, data showed yesterday.

Short-term external debt owed by Asia’s fourth-largest economy fell to $111.5 billion by the end of September from a revised $119.6 billion three months earlier, while foreign reserves rose to $336.9 billion from $326.4 billion, according to data from the Bank of Korea.

Reuters
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