The ratio of Korea’s short-term foreign debt to its foreign reserves hit the highest level in two years in the third quarter, central bank data showed on Nov. 23.
The country‘s short-term external debt -- with a maturity of one year or less -- totaled US$119.8 billion as of the end of September, up US$2.5 billion from three months earlier, according to the data by the Bank of Korea.
The end-September figure accounted for 29.3 percent of the country’s total external debt, the highest percentage since the second quarter of 2014, when the comparable figure was 29.4 percent.
The nation’s total external liability reached US$409.1 billion at the end of September, up US$1.8 billion from three months earlier.
The ratio of short-term foreign debt to its foreign reserves stood at 31.1 percent at the end of September, which is the highest since the third quarter of 2015, when the comparable figure was 31.3 percent.
By Alex Lee and newswires (email@example.com