President Lee Cites IMF View on Korea’s Debt to Challenge Austerity Calls

President Lee Jae-myung on the 15th again dismissed arguments for fiscal austerity by sharing on X a media report citing an International Monetary Fund briefing on Korea’s public finances. He wrote that it was an article people calling for unconditional tightening should read if they care about the country. According to the report, IMF spokesperson Julie Kozack said at a regular briefing that Korea’s debt is sustainable and that the risk of a debt crisis is low. The report also quoted her as saying that although some fiscal expansion is currently visible, such expansion is a very appropriate measure. Lee had also stressed at a Cabinet meeting on the 12th that the country should not fall into the trap of populist austerity arguments. Source: rss.donga.com