IMF Managing Director Meets with Choo Kyung-ho: "South Korea's Exchange Rate Depreciation Level Better Compared to Other Countries"

[Asia Economy Bali (Indonesia) = Reporter Kim Hyewon] On the 16th (local time), Choo Kyung-ho, Deputy Prime Minister and Minister of Economy and Finance, who is visiting Bali, Indonesia to attend the G20 Finance Ministers and Central Bank Governors Meeting, held a meeting with Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), to discuss major global issues.

At the meeting, Managing Director Georgieva stated, "The global economic outlook has darkened compared to April due to the Russia-Ukraine war and inflation," but added, "Considering the strong fundamentals of the Korean economy, the slowdown compared to major countries will not be significant, and the level of currency depreciation is better than that of other countries." She also emphasized the importance of an optimal policy mix between fiscal and monetary policies during difficult times.

Deputy Prime Minister Choo emphasized that policies to strengthen fundamentals will continue and said he will maintain close communication with monetary authorities.

Deputy Prime Minister Choo also expressed hope to strengthen the partnership through the Korea-IMF Digital Currency Conference, which is being discussed to be held in Korea next year, and invited the IMF Managing Director. According to the Ministry of Economy and Finance, Managing Director Georgieva responded that she would visit upon Deputy Prime Minister Choo's invitation to the conference.

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