South Korea Foreign Aid

South Korea, the world's 11th largest economy, is expected to be the latest Southeast Asian country to receive a loan from the International Monetary Fund to help it prop up its ailing currency and stock market. Among the countries that have received IMF aid: South Korea The IMF-led rescue package is expected to exceed $20 billion, with some officials predicting it could climb as high as $80 billion.

The debt rollover agreement between South Korean banks and their foreign creditors is "still not sufficient" for the U.S. and other members of the Group of Seven leading industrial nations to release $8 billion in accelerated financial assistance, U.S. Treasury Secretary Robert Rubin said Thursday.

The debt rollover agreement between South Korean banks and their foreign creditors is "still not sufficient" for the U.S. and other members of the Group of Seven leading industrial nations to release $8 billion in accelerated financial assistance, U.S. Treasury Secretary Robert Rubin said Thursday.

International lenders and South Korean officials on Friday were working out details of a deal to exchange up to $25 billion worth of short-term debt for new loans with longer maturities and government guarantees, banking sources said. Negotiations, being conducted Friday in the second-floor boardroom of Citicorp's Manhattan headquarters, were said to be in the "poker-game stage," in which the parties dickered over interest rates, fees and other loan terms.

The world's major industrial nations, pressed to act faster to alleviate South Korea's deepening financial crisis, announced Wednesday that they will speed up about $10 billion in already promised loans to help stabilize the country's financial markets and stem the outflow of dollars. The move came as the Japanese government also announced new steps to stabilize the ailing Japanese banking system.

With the South Korean currency and stock markets in free fall Friday and investors near panic, a leading presidential candidate in next week's election was forced to backtrack and pledge support for a $60-billion international bailout of the nation's economy.

Reagan Administration foreign policy-makers are mobilizing their forces--not against enemy troops but against a best-selling book. In a debate with significance for the global U.S. military presence, leading Defense and State department officials are attacking "The Rise and Fall of the Great Powers," a book suggesting that the United States is stuck with more strategic interests and military commitments overseas than it can defend.

South Korea's financial crisis and a $57-billion International Monetary Fund bailout plan approved last week mean that tough times have arrived here. But just below the surface simmers remarkable optimism about this nation's long-term future.

South Korea and the International Monetary Fund put the finishing touches Wednesday on a rescue plan of at least $55 billion that is likely to double the nation's unemployment and slam the brakes on economic growth to the slowest pace in 18 years. The conditions attached to the bailout, the largest ever, also call for South Korea to liquidate or restructure banks, invite more foreign investment and products, slash government spending and raise taxes.

International lenders and South Korean officials on Friday were working out details of a deal to exchange up to $25 billion worth of short-term debt for new loans with longer maturities and government guarantees, banking sources said. Negotiations, being conducted Friday in the second-floor boardroom of Citicorp's Manhattan headquarters, were said to be in the "poker-game stage," in which the parties dickered over interest rates, fees and other loan terms.

The world's major industrial nations, pressed to act faster to alleviate South Korea's deepening financial crisis, announced Wednesday that they will speed up about $10 billion in already promised loans to help stabilize the country's financial markets and stem the outflow of dollars. The move came as the Japanese government also announced new steps to stabilize the ailing Japanese banking system.

The International Monetary Fund signaled Tuesday that it is satisfied with South Korea's steps to restructure its economy and will approve the second stage of its $21-billion loan--this one totaling $3.5 billion--on Thursday. A senior IMF official told reporters that South Korea's officials "not only have complied vigorously" with the IMF's demand for economic restructuring, "but they have gone beyond it."

With the South Korean currency and stock markets in free fall Friday and investors near panic, a leading presidential candidate in next week's election was forced to backtrack and pledge support for a $60-billion international bailout of the nation's economy.

The United States signaled Thursday that it will not push for faster disbursement of the $60-billion global rescue package for South Korea's foundering economy and urged Seoul to speed up economic reforms to stem mounting losses in its financial markets. Treasury Secretary Robert E. Rubin told reporters the South Koreans had pledged to make reforms demanded by the International Monetary Fund, and "the key is for them to fully and effectively implement that program."

South Korea's financial crisis and a $57-billion International Monetary Fund bailout plan approved last week mean that tough times have arrived here. But just below the surface simmers remarkable optimism about this nation's long-term future.

South Korea and the International Monetary Fund put the finishing touches Wednesday on a rescue plan of at least $55 billion that is likely to double the nation's unemployment and slam the brakes on economic growth to the slowest pace in 18 years. The conditions attached to the bailout, the largest ever, also call for South Korea to liquidate or restructure banks, invite more foreign investment and products, slash government spending and raise taxes.

The United States signaled Thursday that it will not push for faster disbursement of the $60-billion global rescue package for South Korea's foundering economy and urged Seoul to speed up economic reforms to stem mounting losses in its financial markets. Treasury Secretary Robert E. Rubin told reporters the South Koreans had pledged to make reforms demanded by the International Monetary Fund, and "the key is for them to fully and effectively implement that program."

The International Monetary Fund signaled Tuesday that it is satisfied with South Korea's steps to restructure its economy and will approve the second stage of its $21-billion loan--this one totaling $3.5 billion--on Thursday. A senior IMF official told reporters that South Korea's officials "not only have complied vigorously" with the IMF's demand for economic restructuring, "but they have gone beyond it."

South Korea, the world's 11th largest economy, is expected to be the latest Southeast Asian country to receive a loan from the International Monetary Fund to help it prop up its ailing currency and stock market. Among the countries that have received IMF aid: South Korea The IMF-led rescue package is expected to exceed $20 billion, with some officials predicting it could climb as high as $80 billion.

Reagan Administration foreign policy-makers are mobilizing their forces--not against enemy troops but against a best-selling book. In a debate with significance for the global U.S. military presence, leading Defense and State department officials are attacking "The Rise and Fall of the Great Powers," a book suggesting that the United States is stuck with more strategic interests and military commitments overseas than it can defend.