IMF “韓 부채 지속가능한 수준.. 증가 속도보다 전체 상황 봐야”[이상은의 워싱턴나우] – Daum

The International Monetary Fund (IMF) stated on May 14, 2026, that South Korea’s government debt is at a sustainable level and that the risk of a debt crisis is low. This assessment was delivered by IMF spokesperson Julie Kozack during a regular briefing held at the IMF headquarters in Washington, D.C., in response to an inquiry from the Korea Economic Daily.

The IMF’s evaluation follows the release of its Fiscal Monitor and World Economic Outlook (WEO) reports in April 2026. According to these reports, South Korea’s general government debt was recorded at 52.3% of its gross domestic product (GDP) at the end of 2025. The IMF projects that this figure will reach 63% of GDP by 2030.

While the reports indicate an upward trend in debt levels, Kozack emphasized that the projected 2030 figure remains low in a global context. She stated that the figure of 63% relative to GDP in 2030 is about half the global average for general government debt and concluded that South Korea’s debt situation is quite robust.

This current assessment aligns with previous IMF findings regarding the nation’s fiscal health. Kozack noted that during the IMF’s Article 4 Consultation—a regular system used to monitor the macroeconomic and financial policies of member countries—the organization reached similar conclusions.

In the Article 4 Consultation report published in November 2025, the IMF evaluated South Korea’s debt as being sustainable and determined that the risk of a debt crisis was low. Kozack further remarked that the situation South Korea faces regarding debt is quite favorable compared to many other countries worldwide.

Regarding the projected increase in government debt mentioned in the Fiscal Monitor report, Kozack clarified that the growth should be viewed in the context of the starting point. She highlighted that the IMF explicitly noted the debt increase is beginning from a fundamentally different level compared to other nations.

The IMF’s position suggests that the overall fiscal condition of South Korea remains stable despite the projected rise in the debt-to-GDP ratio over the next several years, primarily because the absolute level of debt remains significantly lower than the international average.