South Korea’s Short-Term Overseas Debt Falls to $136.1 Billion
South Korea’s short-term overseas debt fell last quarter as the government struggled with the fallout from Europe’s sovereign-debt crisis.
Overseas debt maturing in one year or less declined to $136.1 billion at the end of 2011 from a revised $139.9 billion in the third quarter, the Bank of Korea said in a statement in Seoul today. Long-term external debt increased to $262.2 billion.
Policy makers have introduced various measures to reduce the volatility of capital flows while urging borrowers to rely less on short-term overseas loans.
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