ID :
20211
Fri, 09/19/2008 - 20:07
Auther :
Shortlink :
http://m.oananews.org//node/20211
The shortlink copeid
Seoul aims to contain fallout from U.S. financial crisis: minister
SEOUL, Sept. 19 (Yonhap) -- South Korea will take all necessary measures to minimize market uncertainties caused by the U.S. financial crisis, the nation's top economic policymaker said Friday.
Finance Minister Kang Man-soo told a government crisis management meeting that the government is carefully monitoring both exports and the domestic economy to gauge any adverse impact and guard against serious repercussions.
He said the move by Lehman Brothers Holdings Inc. to file for bankruptcy earlier in the week is adversely affecting interest rates on Treasuries and short term loans as well as causing sharp fluctuations in the local stock market and foreign exchange rates.
The official, however, stressed that the general health of the financial market, the debt ratio of its companies and the size of the country's foreign reserves should allow it to withstand any serious problems.
Finance Minister Kang Man-soo told a government crisis management meeting that the government is carefully monitoring both exports and the domestic economy to gauge any adverse impact and guard against serious repercussions.
He said the move by Lehman Brothers Holdings Inc. to file for bankruptcy earlier in the week is adversely affecting interest rates on Treasuries and short term loans as well as causing sharp fluctuations in the local stock market and foreign exchange rates.
The official, however, stressed that the general health of the financial market, the debt ratio of its companies and the size of the country's foreign reserves should allow it to withstand any serious problems.
