Moody's says Mers outbreak credit negative for South Korea
[SEOUL] Moody's Investors Service said on Thursday the recent fallout from the ongoing Middle East Respiratory Syndrome (Mers) outbreak is a credit negative to South Korea as the virus has weakened consumer sentiment in Asia's fourth-largest economy.
"The spread of the illness is credit negative for the sovereign, because it is dampening consumer confidence amid already-weak domestic demand, threatening to undermine an incipient recovery in economic growth," said Moody's in a statement. "Policy stimulus measures to counter the effect on the economy could also have credit-negative side effects."
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Oil prices steady after Iran plays down reported Israeli attack
G7 pledges swift aid for Ukraine, seeks to calm Middle East
H5N1 strain of bird flu found in milk: WHO
China moves to boost foreign investment in domestic tech companies
Xi orders China’s biggest military reorganisation since 2015
Warner Bros CEO earned US$49.7 million in strike-impacted year