"Korea's early repayment of the full amount of loans from the IMF is a major milestone"

In this quote, Horst Koehler is highlighting the significance of Korea's choice to pay back all of its loans from the International Monetary Fund (IMF) ahead of schedule. This act is seen as a major milestone for Korea, as it shows the nation's strong economic growth and stability. By paying back the loans early, Korea is showing its capability to handle its financial resources efficiently and lower its reliance on external financing. This accomplishment also shows favorably on the IMF, as it reveals the success of their assistance and help in helping Korea overcome its financial crisis. In general, this quote stresses the value of accountable financial management and the positive effect it can have on a nation's economy.