Central Banking

IMF urges South Korea to fine-tune fiscal reform

Despite meeting international standards, the government needs to work harder to improve its fiscal transparency by being more specific in its fiscal reports and by simplifying its tax system, the International Monetary Fund (IMF) said on Feb 6, 2001.The government's organization of its fiscal spending is too confusing, deterring any assessment of its policies by other parties, the IMF said.

"The government's involvement in certain private sector activities, as well as the proliferation of extr