Finance Minister Hong Nam-ki has assessed volatility in finance markets and capital movement across borders could expand due to inflation concerns and the normalization of monetary policies by major economies. 

The Finance Ministry said Hong made the remark Thursday while attending a video conference meeting of the International Monetary and Financial Committee which is an advisory body for the International Monetary Fund(IMF). 

In the meeting, Minister Hong urged efforts to stabilize financial markets, mentioning the use of traditional macroeconomic policy as well as special measures to respond to sudden movements in capital inflow and outflow.

Hong also called for better access to IMF loan programs to help support low-income nations in their post-pandemic recovery. He also urged support for structural reform and the transition into digital and green economies in the post-virus era.

The finance chiefs of IMF board member countries attended the meeting as well as representatives of the OECD and the World Trade Organization to discuss the IMF's role in the global economy and fighting the pandemic.

Pointing to the faster-than-expected economic growth, participants also noted the widening disparity in the recovery as well as increasing vulnerabilities in the financial sector.