Guardians of Grail

cheapbag214s · Posted: Fri 11:22, 01 Nov 2013 Post subject: Sept. 24

S. Korean govt. must pay $18.9B in interest on debt this year, report
SEOUL,[url=http://www.govtvault.com/]gucci outelt store[/url], Sept. 24 () -- The South Korean government expects to pay an all-time high interest of about $18.9 billion this year on its growing national debt,[url=http://www.leedpe.com/]cheap christian louboutin shoes[/url], official data showed Tuesday.The interest due has jumped because of increased borrowing to finance various stimulus measures to end the country's prolonged economic slowdown in the wake of the global financial crisis,[url=http://www.myeduhelp.com/]christian louboutin men[/url], the finance ministry said.The Yonhap News Agency reported the $18.9 billion interest translates to about $377 for every person in the country.The national debt last year totaled 443.1 trillion won, up sharply from 309 trillion won in 2008. This year it is expected to top 480 trillion won.Yonhap quoted experts that the rising debt and interest payments could hamper the South Korean government's efforts to maintain fiscal health in the face of tough economic conditions both at home and abroad.