IMF Raises Growth Forecast for S.Korea to 5.75%

Write : 2010-07-06 17:26:18 Update : 2010-07-06 17:54:37

IMF Raises Growth Forecast for S.Korea to 5.75%

The International Monetary Fund (IMF) has raised its 2010 growth outlook for South Korea to 5.75 percent from four-and-a-half percent, citing government-led stimulus measures and improving global trade conditions.

The IMF added in its report Tuesday that the South Korean economy would grow five percent next year.

The IMF advised that the nation start conducting an exit strategy in stages through a gradual increase of its key rate.

The increase to the growth outlook comes after a two-week visit to South Korea by an IMF delegation led by Subir Lall to assess the economic status of the nation.

During the stay, the delegation met with leaders in the business and financial sectors.

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