The International Monetary Fund is siding with local and global financial institutions as well as the Korean government... in downgrading its growth outlook for Asia's fourth-largest economy.
It has cut the growth forecast for Korea to the two percent range for this year.
This came in its World Economic Outlook Update report released on Monday.
The IMF, however, did not go into further details, including by how much it adjusted the forecast.
In its report last October,... the organization expected Korea to grow three percent this year.
By contrast,... the IMF's latest update includes upward revisions for countries like Germany, Britain, Japan and Spain.
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