The International Monetary Fund’s (IMF) mission chief for Korea says South Korea is unlikely to face a crisis in its international balance of payments even if another global financial crisis erupts.

Subir Lall made the remark during a seminar in Washington that was organized by the Korea Economic Institute on Wednesday.

Lall noted that South Korea has comprehensive crisis management measures in place and has sufficient foreign exchange reserves.

The mission chief added that South Korea’s economic growth for this year is projected to stand at four percent and four-point-four percent next year.