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Responses to Questions About IMF Policies and Country Operations
Korea, Republic of
Last Updated: May 10, 2007| Question: On North Korea, there was a report a few days ago that the South Koreans were willing to help the North Koreans join the IMF. Have you had any communication with either government? What are their plans that you can share with us? Also, does North Korea have to be a member to get technical assistance at an early stage from the Fund? |
| Answer:
MR. AHMED: On North Korea, we saw the same reports. We have not had any official communication about North Korea's intention or interest in joining the IMF. The IMF, of course, is a universal institution, and any country that wishes to join it can do so. There is a well established process whereby the Executive Board considers the application for membership and then forwards a recommendation to the Board of Governors. But, as of now, we haven't heard anything specific official on that. Fund technical assistance (TA) is a service for members and is normally provided only to Fund members. However, there are exceptions to this rule. First, TA may be provided to a non-member where, for instance, it is needed to help a country with reforms that would eventually lead to it joining the Fund. Second, TA is sometimes provided to regional groupings or institutions which have non-Fund members; the benefit that flows to the non-member in these cases would be considered ancillary.
May 10, 2007 Transcript of a Press Briefing by Masood Ahmed, Director of the External Relations Department, IMF |