Moody's Slashes Growth Outlook for Korea to Near Zero Percent

  • By Ahn Joong-hyeon

    March 27, 2020 10:30

    Moody's sharply slashed Korea's growth outlook for this year from 1.4 percent to 0.1 percent, citing the economic fallout of the coronavirus pandemic.

    The move follows Fitch's lowering of its growth projection for Korea from 2.2 percent to 0.8 percent on March 19, while Standard & Poor's also revised its forecast for Korea from 1.1 percent to -0.6 percent early this week.

    The world's major credit ratings firms have now all slashed their growth outlooks for Korea to near zero percent.

    Moody's also slashed the G20 countries' growth projection for this year to -0.5 percent from 2.6 percent in November last year.

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