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IMF, World Bank to visit S. Korea for financial system assessment

Officials from the International Monetary Fund and the World Bank will visit South Korea this week for a regular assessment of the nation's financial system, officials said Monday.

The IMF and World Bank conduct evaluations of the financial architecture of 25 selected countries every five years under the Financial Sector Assessment Program. South Korea was last reviewed in 2013.

World Bank HQ (AP)
World Bank HQ (AP)

A delegation of IMF and World Bank officials will arrive in South Korea on Tuesday to discuss details of the assessment with South Korean officials, the Financial Services Commission said in a statement.

The assessment will be conducted by the end of this year, and a final report will be submitted to the IMF in the first half of next year, the FSC said. (Yonhap)