IMF welcomes South Korea bank rescue package

October 20th, 2008 - 12:37 pm ICT by ANI  

Washington, Oct 20 (ANI): The International Monetary Fund chief, Dominique Strauss-Kahn, has welcomed South Korea’’s move to join international rescue efforts to ease pressures in the local dollar funding market.
“The announced guarantee of banks” external liabilities will bring Korea’’s policies closer in line with advanced countries, including some in the region, and help ease pressures in the local dollar funding market,” The News quoted Strauss-Kahn, as saying.
South Korea has pledged over 130 billion dollars to resuscitate its markets dragged down by the global crisis. (ANI)

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