Republic of Korea: Staff Report for the 2004 Article IV Consultation

February 11, 2005

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Republic of Korea: Staff Report for the 2004 Article IV Consultation, (USA: International Monetary Fund, 2005) accessed November 26, 2024

Summary

This 2004 Article IV Consultation highlights that from 1999 to 2002, Korea’s economy grew rapidly, by an average of 7¼ percent per year. But starting in 2003, the economy has begun to sputter. Growth suddenly stopped in the first half of the year, leapt ahead in the second half as exports boomed, but then slowed again to an anemic 2¾ percent annualized rate during January–September 2004 as exports decelerated. The authorities have been countering this slowdown by easing macroeconomic policies. The fiscal policy stance has been shifted from neutral to mildly expansionary.

Subject: Banking, Credit, Credit bureaus, External debt, Financial institutions, Financial markets, Income, Loans, Money, National accounts

Keywords: CR, Credit, Credit bureaus, Global, IMF staff representative, Income, ISCR, Key interest rate, Loans, Recent data, Report, Service industry output, Staff appraisal, Stimulative fiscal policy

Publication Details

Pages:

54
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/049
Stock No:

1KOREA2005001
ISBN:

9781451822182
ISSN:

1934-7685

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