Finance minister addresses risks of Argentina’s fiscal crisis

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Finance minister addresses risks of Argentina’s fiscal crisis

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.

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