Challenges to overcome

Brian Aitken, who leads the International Monetary Fund’s (IMF) mission to Korea, speaks at the Central Government Complex in Seoul on Friday. Seven members of the IMF were in Korea from Feb. 2-13 to meet with officials from the Finance Ministry and the Bank of Korea. Aitken said, “Korea’s growth momentum stalled somewhat during 2014 and the outlook remains challenging from both a cyclical and structural standpoint.” He added that there is a risk that a “self-reinforcing downside dynamic” could take hold, although it is unlikely. The division chief of IMF said Korean authorities have the “monetary and fiscal policy space to take action if clear signs of a recovery do not emerge soon.” [NEWSIS]