ID :
199673
Mon, 08/08/2011 - 05:27
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https://oananews.org//node/199673
The shortlink copeid
Lee orders steps to minimize impact from U.S. rating downgrade
SEOUL (Yonhap) - President Lee Myung-bak instructed officials Monday to scrutinize the possible repercussions that a cut in the U.S. credit rating could have on South Korea's economy, officials said.
Lee issued the instruction at a weekly meeting with senior presidential aides, officials said.
After the meeting, Lee also convened an emergency session with the finance minister, the central bank chief and other finance officials and civilian experts to assess the situation and discuss possible countermeasures, officials said.
Details of the discussions were not immediately made available.
Global credit rating agency Standard and Poor's downgraded its U.S. credit rating to AA+ from AAA on Friday. On Monday, South Korean stocks started more than 1 percent lower on jitters over the U.S. rating cut.
Lee issued the instruction at a weekly meeting with senior presidential aides, officials said.
After the meeting, Lee also convened an emergency session with the finance minister, the central bank chief and other finance officials and civilian experts to assess the situation and discuss possible countermeasures, officials said.
Details of the discussions were not immediately made available.
Global credit rating agency Standard and Poor's downgraded its U.S. credit rating to AA+ from AAA on Friday. On Monday, South Korean stocks started more than 1 percent lower on jitters over the U.S. rating cut.
