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Finance Chief Attends Emergency Teleconference of IMFC

Write: 2020-03-28 13:42:28Update: 2020-03-28 13:50:05

Finance Chief Attends Emergency Teleconference of IMFC

Photo : YONHAP News

Finance Minister Hong Nam-ki said Friday that South Korea will continue to introduce unprecedented measures to fight the global pandemic.

He made this remark during a video conference with the International Monetary and Financial Committee while explaining the country's plan to push for a 132 trillion won rescue package in fiscal and financial support.

Hong also talked about the slowing growth in new coronavirus infections in South Korea and gave credit to extensive testing, early detection, special entry procedures, transparent information disclosure and an innovative quarantine system using information technology such as smartphone apps.

He proposed that South Korea will more actively share its quarantine experience with the international community.

Seoul's finance chief also urged the International Monetary Fund to simplify procedures to enable swift financial assistance for countries affected by the pandemic.

He urged the IMF to also consider allocating Special Drawing Rights (SDR) to provide global liquidity.

SDR is an international reserve asset issued by the IMF for its member countries.

Other countries also echoed the need for the IMF to play a stronger role.

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