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IMF, JPM revise up Korea's growth outlook


IMF, JPM revise up Korea s growth outlook
Posted : 2021-01-26 22:01
By Kim Yoo-chul
The local economy saw its worst performance in over two decades in 2020, but grew at a faster-than-expected pace in the fourth quarter, also raising hopes that it will bounce back in 2021 in line with a recovery in global trade.
In a report released Tuesday, the Bank of Korea (BOK) noted that the country s gross domestic product (GDP) contracted 1 percent in 2020 from a year ago due to the fallout from the COVID-19 pandemic
This was the first economic contraction since the 1998 Asian financial crisis when the economy shrank 5.1 percent, but the performance was better than the central bank s last forecast for 2020 in November of a 1.1 percent contraction. ....

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Is inflation returning with economic rebound?


Soaring won, delay in full vaccination more immediate concern for Korea
By Lee Kyung-min
Concerns about inflation are emerging on the back of hopes of an earlier-than-expected economic recovery sparked by the beginning last December of mass vaccinations against COVID-19 in some countries ― a dramatic turnaround from worries over deflation raised amid the economic meltdown brought on by the coronavirus pandemic.
Some say it is too early to worry about inflation at a time when business activities are still in the doldrums and consumer price levels remain low. However, others argue that governments and central banks should take preventive action as inflation could occur sooner than expected due to the toxic cocktail of an astronomical amount of liquidity in the market and the potential worldwide economic recovery ....

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