|
|
|
S. Korea views Dubai's impact on local markets as 'limited'
SEOUL, Nov. 29 (Yonhap) -- The impact of Dubai's ongoing debt problem on South Korea's financial markets will be marginal but it should be closely monitored to stave off a possible market turmoil, a South Korean official said Sunday.
"We think that the overall impact of the Dubai debt problem on the global economy and financial system is not that significant given the extent of drops reported in the U.S. stock markets," Yoon Jong-won, head of the finance ministry's economic policy bureau, told Yonhap News Agency in a telephone interview. "Especially, the impact on the Korean markets will be very limited."
His remarks come after a Dubai firm called for a six-month repayment moratorium on billions of dollars in debt Wednesday, raising fears it could trigger yet another global financial crisis after the collapse of Lehman Brothers last year.
|
| |
|
|
Home
