IMF to upgrade growth targets for emerging markets including S. Korea

By Koh Byung-joon
SEOUL, June 23 (Yonhap) -- The International Monetary Fund will likely upgrade
its growth outlooks for emerging countries in Asia including South Korea, as
exports and financial markets are stabilizing following the worldwide turmoil
that started last summer in the United States, a senior economist at the
organization said Wednesday.

"We haven't finalized the new numbers (for emerging markets). But it is very
likely that many of the numbers are going to be revised upward on average by
about one percent," Olivier Blanchard, senor economic counselor of the IMF, told
an international conference co-hosted by Seoul's government and the World Bank
here.
The emerging economies include South Korea, Thailand, and Indonesia, he noted,
saying that the outlooks for China and India will likely be maintained.
In its April prediction, the IMF expected South Korea's economy to decline 4
percent this year before rebounding 1.5 percent in 2010. The latest outlook will
come out within a month, he said, stopping short of a detailed timetable.
kokobj@yna.co.kr
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