South Korea is continuing to push for a global currency swap scheme at the meetings of the Group of Twenty this year, Yonhap News reports. The proposed scheme would enable central banks to swap their currencies with each other if their countries face a possible liquidity crunch.

South Korea had brought up the proposal, aimed at bolstering the financial safety net against global market turmoil, during the 2010 meetings as well. During the 2008 financial crisis, the country had struck a bilateral $30 billion currency swap deal with the U.S.

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