According to the agreement reached between the International Monetary

QUESTION

According to the agreement reached between the International Monetary Fund and the South Korean government in 1997, in return for funding, the South Koreans were required to:

A. adopt communist ideologies.

B. reduce their imports by enforcing restrictive import licensing.

C. open their economy to greater foreign competition.

D. oppose the ideologies of the World Trade Organization.

E. engage in competitive currency devaluation.

ANSWER

C