S. Korea’s Short-Term External Debt Falls

Write : 2016-02-25 09:21:36 Update : 2016-02-25 14:23:43

S. Korea’s Short-Term External Debt Falls

South Korea’s short-term external debt dropped in 2015 compared to a year earlier.

Bank of Korea officials reported South Korea’s gross foreign debt stood at 396-point-six billion U.S. dollars as of December last year, 27-point-eight billion dollars lower than a year before.

The country's net international investment position reached 323-point-two billion dollars, 64 billion dollars higher on-year.

Short-term debts due less than a year from now dropped by seven-point-seven billion dollars.

South Korea’s short-term debt to foreign reserves ratio was also 29-point-six percent, two-point-five percentage points lower than tallies from late 2014, indicating the country reduced its short-term risks.

Such external debts are considered volatile money that can exit the country in a capital flight during financial crises.

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