Lee Calls for New World Regulatory Body Why the Asian Crisis Fund Is a Good Idea IMF Chief Confident that Coordinated Measures will Calm Financial Markets IMF-World Bank Meeting Calls for Coordinated Action Major Powers 'Pressure IMF to Distort Data' Chavez to Pull Venezuela Out of World Bank, IMF IMF, World Bank Leaders Seek Support for Increased Resources from U.S. Congress IMF Given the Cold Shoulder IMF 'Lacks Money to Bail Out Eastern Europe'

After an annual meeting with the Korean government, Jerald Schiff, assistant director of the IMF's Asia and Pacific Department, on Tuesday said the growth rate of the Korean economy will decline from 4.6 percent in the second quarter and 3.6 percent in the third quarter, to 2.6 percent in the fourth. The reasons he cited were diminishing exports and investment due to a slowdown in the world economy, and depressed consumer sentiment resulting from high oil and grain prices. Schiff predicted a 4.3 percent inflation rate for Korea this year, and advised that Korea’s macroeconomic policies should focus on taming inflation for the moment.

(englishnews@chosun.com )