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South Korea’s Short-Term Overseas Debt Falls to $136.1 Billion

Feb. 21 (Bloomberg) -- 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.

To contact the reporter on this story: Eunkyung Seo in Seoul at eseo3@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

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