ID :
35240
Fri, 12/12/2008 - 13:40
Auther :
Shortlink :
http://m.oananews.org//node/35240
The shortlink copeid
S. Korea to issue currency bonds 'flexibly'
SEOUL, Dec. 12 (Yonhap) -- South Korea said Friday that it will lift caps on currency stabilization bonds sold both in local and foreign currencies to manage the debt sale process more "flexibly."
Currently, the government sets separate limits on the amount of respective bond's
issued. It plans to issue 20.6 trillion won (US$15.04 billion) in foreign
exchange stabilization bonds next year, of which 6.6 trillion won bonds will be
sold in foreign currencies.
The Ministry of Strategy and Finance said that the National Assembly has passed a
revised law regarding foreign currency transactions, under which such a barrier
will be lifted. The revision, to be effective in February, will allow the
government to adjust bond issuance depending on market conditions, the ministry
said.
Currently, the government sets separate limits on the amount of respective bond's
issued. It plans to issue 20.6 trillion won (US$15.04 billion) in foreign
exchange stabilization bonds next year, of which 6.6 trillion won bonds will be
sold in foreign currencies.
The Ministry of Strategy and Finance said that the National Assembly has passed a
revised law regarding foreign currency transactions, under which such a barrier
will be lifted. The revision, to be effective in February, will allow the
government to adjust bond issuance depending on market conditions, the ministry
said.
