US and Korea agree to set up liquidity facilities if necessary

The US and South Korea agreed on October 1 to implement liquidity services to quell monetary instability if wanted, South Korea’s finance ministry stated after a teleconference between the finance chiefs of the 2 nations.

“The 2 nations are able to work carefully collectively to implement liquidity services when essential, akin to when monetary instability is aggravated by the unfold of liquidity crunch in main economies, together with Korea,” the ministry stated in a press release. The decision was

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