S. Korean economy to suffer less than developed countries: IMF official
- 4 years ago
이창용 IMF국장 "코로나19 한국경제 영향, 선진국보다 작을 것
The pandemic is wiping out economic growth around the world, but an IMF official is saying that the impact on the Korean economy will be less severe than in other developed countries.
That's according to Rhee Chang-yong, Director of the IMF's Asia and Pacific Department, who was referring to the IMF's projection Tuesday that the Korean economy would shrink this year by 1-point-2 percent while advanced economies would contract by an average of 6-point-1 percent.
He attributed the difference to how successfully Korea has managed to contain the spread of the virus, which has helped it avoid a large scale shutdown of its manufacturing and service industries.
The pandemic is wiping out economic growth around the world, but an IMF official is saying that the impact on the Korean economy will be less severe than in other developed countries.
That's according to Rhee Chang-yong, Director of the IMF's Asia and Pacific Department, who was referring to the IMF's projection Tuesday that the Korean economy would shrink this year by 1-point-2 percent while advanced economies would contract by an average of 6-point-1 percent.
He attributed the difference to how successfully Korea has managed to contain the spread of the virus, which has helped it avoid a large scale shutdown of its manufacturing and service industries.