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February 4, 1999


By CBR Staff Writer

Korea’s Ministry of Information and Communication has asked the World Bank to reassess its conclusions on Korea’s preparedness for the Millennium date change. The survey in question, released on January 26 1999, examined 139 developing countries for their millennium readiness. Korea’s complaint is that its country report had many blanks, giving the impression that Korea was not preparing itself for the year 2000. The World Bank’s program coordinator, A. Khawaja, admitted that, because of time problems, he had compiled his report on information collected from only five financial institutions, not including any from the government sector. Global 2000, an organization formed by financial bodies to assess worldwide readiness, rated Korea as relatively good compared to advanced countries.

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