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Warning against debt explosion

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Steps needed to tackle low birthrate, aging population

The International Monetary Fund (IMF) has issued a warning for Korea to take preemptive measures against a possible "explosion" of its national debt due to the ongoing low birthrate coupled with rapid aging of the population. Andreas Bauer, assistant director and Korea mission chief for the IMF, said, "Korea's strong fundamentals, including a robust manufacturing sector and a quality labor force, will keep the debt manageable for now."

However, Bauer warned against the possible risks that will come from healthcare costs and other liabilities associated with aging, which he said will pose a concern going forward. During an interview with Bloomberg, Tuesday, Bauer cited the need for the Korean........

© The Korea Times

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