Global and Regional Economic Developments and Prospects, and the Implications for Korea

Global and Regional Economic Developments and Prospects and the Implications for Korea

- Speaker: Subir Lall, Division Chief, Asia-Pacific Depatment, IMF

- Date: December 9, 2008.

“I gave you the headline number of 2.0% growth in 2009 and this means that growth bottoms out in the first quarter of 2009 and after which there will be a gradual recovery in line with the projected recovery in the global economy and improvements in global financial conditions... At the same time because of the slowing economy and reduced pressures from commodity prices we expect inflation to return to the target band of the BOK in early 2009. So headline inflation is already easing, oil prices are falling, core inflation is still trending slightly higher but is expected to follow soon..."