December 10, 2024

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South Korea will hold an annual consultation with Fitch Ratings this week on the country’s sovereign rating, the Finance Ministry said Bov. 25.

A three-member Fitch delegation led by James McCormack, Fitch’s head of sovereign ratings, is set to meet with officials from the Finance Ministry, Unification Ministry, Trade Ministry and the Bank of Korea.

Fitch will look into South Korea’s macroeconomic policies, household debt, fiscal health and financial stability, as well as prospects for negotiations on North Korea’s nuclear program and inter-Korean economic cooperation, it added.

Finance Minister Hong Nam-ki plans to meet with the delegation to explain South Korea‘s economic policy.

In August, Fitch kept its sovereign rating for South Korea steady at AA- with a stable rating outlook.

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