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제목USA: IMF RELEASE 2ND INSTALMENT OF SOUTH KOREA'S RESCUE PACKAGE
설명The International Monetary Fund has released the second instalment of South Korea's U-S 57 billion dollar rescue package. I-M-F Managing Director Michel Camdessus praised both the current government and the newly elected president Kim Dae-Jung, in a bid to restore confidence in jittery financial markets. During the election campaign Kim had promised voters he would force the I-M-F to renegotiate the most punitive terms if he was elected but he later forced to backtrack and pledge to adhere to the I-M-F's conditions. After reviewing South Korea's efforts so far the International Monetary Fund's executive board has decided, to disburse another U-S 3.6 billion dollar loan. The second instalment brings to U-S 9 billion dollars the amount of support provided by the I-M-F. In a press conference on Thursday, Managing Director Michel Camdessus praised both the current government and the newly elected president Kim Dae-Jung, for their support of a strong reform program. Camdessus said it would be critical for former President Kim Young-sam's administration to work closely with opposition candidate Kim Dae-Jung, who was declared the election winner on Thursday. SOUNDBITE: "It is important that despite the extreme difficulties of the situation this transition in Korea has been a peaceful one a truly democratic one" SUPER CAPTION: Michel Camdessus, International Monetary Fund Managing Director The comments are aimed directly at restoring confidence in jittery financial markets. As news of his victory reached New York, the Dow Jones Industrial average fell nearly 147 points, before later recovering about a quarter of its losses. One U-S economist said Kim's election signalled a greater risk of more resistance at the top levels of the Korean government to the International Monetary Fund's plan for reviving the economy. Investors fear that the new president will seek to overturn the harsh austerity programme the country had to accept as a condition of receiving the largest bailout in I-M-F history. During the election campaign Kim promised voters he would force the I-M-F to renegotiate the most punitive terms, if he was elected. He was later was forced to backtrack and pledge to adhere to the I-M-F's conditions. Despite that, the I-M-F said it was confident Kim Dae-Jung will adhere to the I-M-F's demands to restrain the country's economic growth, raise taxes and interest rates and slow the expansion of its powerful conglomerates. SOUNDBITE: "As to other leading candidates he had given his support and reiterated his support to this programme so we look forward here to work with his administration and during the transition time, whatever the arrangement we have with the previous administration to work together closely to make sure the programme not only does not lose it's momentum but gains an increase in momentum." SUPER CAPTION: Michel Camdessus, International Monetary Fund Managing Director In addition to praising South Korea's efforts, the I-M-F welcomed actions by the government of Japanese Prime Minister Ryutaro Hashimoto this week to institute a major income tax cut. The move is an effort to jump-start a stalled Japanese economy and also to begin dealing with weak banks. SOUNDBITE: "I really do welcome this fiscal and banking initiatives they are important step in reviving a flagging Japanese economy and supporting a turnaround in the Asian region more generally." SUPER CAPTION: Michel Camdessus, International Monetary Fund Managing Director Fund officials have said South Korea is scheduled to receive nearly U-S 11 billion dollars by January 8. You can license this story through AP Archive: http://www.aparchive.com/metadata/you... Find out more about AP Archive: http://www.aparchive.com/HowWeWork
생산자AP Archive
날짜1997-12-19
기록유형동영상
기록형태영상클립
주제IMF협상
연관링크https://youtu.be/sRDDjfeMM3s
식별번호KC-R-05378
제목USA: IMF RELEASE 2ND INSTALMENT OF SOUTH KOREA'S RESCUE PACKAGE
설명The International Monetary Fund has released the second instalment of South Korea's U-S 57 billion dollar rescue package. I-M-F Managing Director Michel Camdessus praised both the current government and the newly elected president Kim Dae-Jung, in a bid to restore confidence in jittery financial markets. During the election campaign Kim had promised voters he would force the I-M-F to renegotiate the most punitive terms if he was elected but he later forced to backtrack and pledge to adhere to the I-M-F's conditions. After reviewing South Korea's efforts so far the International Monetary Fund's executive board has decided, to disburse another U-S 3.6 billion dollar loan. The second instalment brings to U-S 9 billion dollars the amount of support provided by the I-M-F. In a press conference on Thursday, Managing Director Michel Camdessus praised both the current government and the newly elected president Kim Dae-Jung, for their support of a strong reform program. Camdessus said it would be critical for former President Kim Young-sam's administration to work closely with opposition candidate Kim Dae-Jung, who was declared the election winner on Thursday. SOUNDBITE: "It is important that despite the extreme difficulties of the situation this transition in Korea has been a peaceful one a truly democratic one" SUPER CAPTION: Michel Camdessus, International Monetary Fund Managing Director The comments are aimed directly at restoring confidence in jittery financial markets. As news of his victory reached New York, the Dow Jones Industrial average fell nearly 147 points, before later recovering about a quarter of its losses. One U-S economist said Kim's election signalled a greater risk of more resistance at the top levels of the Korean government to the International Monetary Fund's plan for reviving the economy. Investors fear that the new president will seek to overturn the harsh austerity programme the country had to accept as a condition of receiving the largest bailout in I-M-F history. During the election campaign Kim promised voters he would force the I-M-F to renegotiate the most punitive terms, if he was elected. He was later was forced to backtrack and pledge to adhere to the I-M-F's conditions. Despite that, the I-M-F said it was confident Kim Dae-Jung will adhere to the I-M-F's demands to restrain the country's economic growth, raise taxes and interest rates and slow the expansion of its powerful conglomerates. SOUNDBITE: "As to other leading candidates he had given his support and reiterated his support to this programme so we look forward here to work with his administration and during the transition time, whatever the arrangement we have with the previous administration to work together closely to make sure the programme not only does not lose it's momentum but gains an increase in momentum." SUPER CAPTION: Michel Camdessus, International Monetary Fund Managing Director In addition to praising South Korea's efforts, the I-M-F welcomed actions by the government of Japanese Prime Minister Ryutaro Hashimoto this week to institute a major income tax cut. The move is an effort to jump-start a stalled Japanese economy and also to begin dealing with weak banks. SOUNDBITE: "I really do welcome this fiscal and banking initiatives they are important step in reviving a flagging Japanese economy and supporting a turnaround in the Asian region more generally." SUPER CAPTION: Michel Camdessus, International Monetary Fund Managing Director Fund officials have said South Korea is scheduled to receive nearly U-S 11 billion dollars by January 8. You can license this story through AP Archive: http://www.aparchive.com/metadata/you... Find out more about AP Archive: http://www.aparchive.com/HowWeWork
생산자AP Archive
날짜1997-12-19
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연관링크https://youtu.be/sRDDjfeMM3s
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기록형태영상클립
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