The International Monetary Fund(IMF) has hinted at the possibility of marking down South Korea’s economic growth outlook.
 
Koshy Mathai, the deputy division chief in the IMF's Asia and Pacific Department, unveiled the possibility when he spoke at a session organized by the Korea Society in New York on Thursday.
 
Earlier in October, the IMF forecast that South Korea will see economic growth of two-point-seven percent this year and three percent next year.
 
Mathai said that third quarter indices that the October projection had not reflected are weak and suggested that the IMF will likely lower South Korea’s outlook.
 
Given that the IMF releases growth outlooks in April and October every year, the organization’s downgrade of South Korea’s economic prospects is expected to come next April.
 
Last month, the Organization for Economic Cooperation and Development slashed its 2017 growth outlook for South Korea by four-tenths of a percentage point to two-point-six percent, citing a slump in government spending and the possible delay in global economic recovery.