South Korea

    The country co-hosted a conference with the International Monetary Fund on July 12, the Wall Street Journal says. The conference brought together experts to discuss the growing importance of Asia to the world economy. Several experts noted that the conference was also a bid to repair the IMF’s image in South Korea, where the aid it provided some 12 years ago is still controversial. The Washington-based lender imposed changes on the country’s economy in return for granting billions of dollars in loans to prevent default on its foreign debt.

    About the author

    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.