April 26, 2024

• 

Officials from the International Monetary Fund and the World Bank will visit Korea this week for a regular assessment of the nation‘s financial system, officials said on Feb. 11.

The IMF and World Bank conduct evaluations of the financial architecture of 25 selected countries every five years under the Financial Sector Assessment Program. Korea was last reviewed in 2013.

A delegation of IMF and World Bank officials will arrive in Korea to discuss details of the assessment with South Korean officials, the Financial Services Commission said in a statement.

The assessment will be conducted by the end of this year, and a final report will be submitted to the IMF in the first half of next year, the FSC said.

By Ram Garikipati and newswires (ram@heraldcorp.com)