May 04, 2024
Economy
Short-term debt to forex reserves hits record high
[THE INVESTOR] The ratio of Korea’s short-term foreign debt to its foreign reserves hit the highest level in more than a year in the first quarter, data showed on May 24.
The country’s short-term external debt -- with a maturity of one year or less -- totaled US$115.4 billion as of the end of March, up US$10.2 billion from three months earlier, according to the Bank of Korea.
The end-March figure accounted for 28.4 percent of the country‘s total external debt, up 0.8 percentage point from the previous quarter, the data showed.
The nation’s total external liability reached US$405.7 billion at the end of March, up US$24.7 billion over the cited period.
The ratio stood at 30.7 percent at the end of March, marking the highest since the third quarter of 2015, when the comparable figure was 31.3 percent.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The country’s short-term external debt -- with a maturity of one year or less -- totaled US$115.4 billion as of the end of March, up US$10.2 billion from three months earlier, according to the Bank of Korea.
The end-March figure accounted for 28.4 percent of the country‘s total external debt, up 0.8 percentage point from the previous quarter, the data showed.
The nation’s total external liability reached US$405.7 billion at the end of March, up US$24.7 billion over the cited period.
The ratio stood at 30.7 percent at the end of March, marking the highest since the third quarter of 2015, when the comparable figure was 31.3 percent.
By Alex Lee and newswires (alexlee@heraldcorp.com)
