other countries on the list) was to experience a long
period of slow growth. South Korea continued with
the adjustment it had already begun. Despite the
concerns generated by South Korea’s debt-to-GNI
ratio of about 50%, the country’s ability to pay was
never really in doubt. But by 1985, the country had
lowered its current account deficit to just 1.1% and
then moved to a surplus of 2.8% of GNI in 1986, as
rapid growth had now returned to the country