To lessen the possibility of an economic slowdown, South Korea has given 50 billion won (about $34.7 billion) to help the credit markets that were harmed by rising interest rates.
According to the Bloomberg News Agency, South Korea will work to expand and run the “liquidity supply programme” to avoid credit pressure for bonds and other short-term financial companies and financial markets. This was stated in a statement by South Korean Finance Minister Zhu Kyung Ho after the Central Bank Governor “Ri Chang Young” and other officials met today, Sunday.
Since South Korea declared an increase in emergency financing to over 100 trillion WNA to protect businesses at the height of the Corona outbreak, this commitment represents one of the largest financial support rounds.
Tomorrow, South Korea is expected to begin purchasing commercial papers and corporate bonds after pumping in the first 1. 6 trillion won from the 20 trillion won.
South Korea promises to provide $35 billion in support for the credit markets.
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