Finance minister addresses risks of Argentina’s fiscal crisis
Published: 26 Jan. 2014, 23:36
The government expressed caution about the potential risks in emerging markets due to the possibility of default in Argentina.
“Recent unease in emerging countries has had a limited impact on our economy so far,” said Choo Kyung-ho, vice minister of strategy and finance, during a meeting at the Korea Federation of Banks in Myeong-dong, Seoul, yesterday. “But we are not in the situation to see it complacently as if it were a fire across the river.”
Choo said an individual shock might be easily dismissed, but warned that a series of shocks in emerging markets could adversely affect the Korean economy.
“Recent unease in emerging countries has had a limited impact on our economy so far,” said Choo Kyung-ho, vice minister of strategy and finance, during a meeting at the Korea Federation of Banks in Myeong-dong, Seoul, yesterday. “But we are not in the situation to see it complacently as if it were a fire across the river.”
Choo said an individual shock might be easily dismissed, but warned that a series of shocks in emerging markets could adversely affect the Korean economy.
with the Korea JoongAng Daily
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