The National Assembly Budget Office (Chief Dongha Chi) held its annual consultative meeting with the International Monetary Fund (IMF) on Friday, September 12, in compliance with Article IV of the IMF’s Articles of Agreement. This annual consultation process is a standard procedure through which the IMF engages with member countries to discuss broader economic matters, including macroeconomic, foreign exchanges, and financial issues. 

The meeting was attended by Hyejeong Sim, Tax Analysis Counsel at NABO, and Mr. Radul Anand, Mission Chief for Korea at the IMF among others. NABO and the IMF had in-depth discussion on short- and long-term financial issues such as Korea’s fiscal policy, taxation, and pension systems.

Short-term topics included evaluation of the 2026 budget proposal, the impact of budget expansion for advanced industries and supply chain strengthening on contingent liabilities, and coordination between monetary and fiscal policies. Long-term discussions focused on health insurance and pensions fiscal projections, tax revenue expansion, and establishment of fiscal rules and buffers.

Korea Mission Chief Raful Anand concluded, “It was meaningful to hear diverse perspectives on Korea’s fiscal situation from NABO experts. I hope we can continue our ongoing exchanges and close communication.”