The International Monetary Fund on Tuesday slashed its economic growth forecast for South Korea this year citing weak global economic conditions.
According to reports, the lender now forecasts the economy to grow 3.25 percent in 2012, slower than the previously estimated 3.5 percent growth.
The IMF reportedly urged South Korea to enhance its contingency planning for tail risks. It also asked the government to closely monitor the high level of household debt and take corrective actions if necessary.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.