IMF downgrades S Korea's economic growth to 4.1pc

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SEOUL, Sept 14 (Xinhua): The International Monetary Fund (IMF) changed its projection of the South Korea's economic growth for this year to 4.1 per cent, down 0.1 percentage from its prediction five months ago, the South Korea's Yonhap new agency reported yesterday.
The IMF report attributed the downgrade to global financial turmoil, a growing trade deficit, rising commodity prices as well as the volatile domestic political environment.
"Risks are mainly external and on the downside, but a volatile domestic political environment also clouds the outlook," the report said, citing months of street rallies over US beef imports that struck Lee Myung-bak government.
The IMF's forecast is the lowest among major international and South Korean think tanks and organisations, Yonhap said.