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Korean economy has policy space to deal with risks: global ratings agencies

All Headlines 14:41 October 09, 2016

WASHINGTON, Oct. 9 (Yonhap) -- The South Korean economy has a degree of policy space to tackle and contain domestic risks and geopolitical shocks, senior officials from global ratings agencies told Finance Minister Yoo Il-ho.

Yoo, who is on a U.S. trip to attend the conferences of the World Bank and the International Monetary Fund, held separate meetings with senior officials from Moody's, Standard and Poor's and Fitch on Saturday in Washington.

During the meetings, officials from the ratings agencies told Yoo that South Korea's policy space can cope with household debts, the aging population and geopolitical risks.

Standard & Poor's raised its credit rating of the Korean economy to "AA" from "AA-" in August.

In December last year, Moody's upgraded South Korea's rating to "Aa2" from "Aa3." Fitch has reaffirmed South Korea's rating at "AA-."

Korean economy has policy space to deal with risks: global ratings agencies - 1


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