Econ
IMF: Vietnam reaped the fruits in economy
On April 21, at his meeting with Head of the Party Central Committee’s Commission for Economic Affairs Nguyen Van Binh in Ha Noi, IMF Resident Representative in Vietnam John Nelmes said that the International Monetary Fund (IMF) hailed Vietnam’s economic achievements.
Head of the Party Central Committee’s Commission for Economic Affairs Nguyen Van Binh received IMF Resident Representative in Vietnam John Nelmes
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At the reception, Binh spoke highly of the practical and efficient cooperation between Vietnam and the IMF, especially in policy consultation for banking and finance. He briefed the guests about Vietnam’s socio-economic development directions and tasks for 2016-2020 adopted at the 12 th National Party Congress.
He also clarified the country’s challenges while highlighting its priorities on completing institutions, stabilising the macro economy, controlling the inflation rate, renovating the fiscal policy to reduce overspending and tackle public debt, developing financial markets as well as restructuring financial institutions and state-owned enterprises.
Mr. Binh pointed out advantages, difficulties, challenges and priorities for Viet Nam to complete institutional mechanisms, stabilize the macro-economy, curb inflation, reform the fiscal policy, reduce State budget overspending, deal with public debt, develop the financial market, restructure credit organizations, promote the banking system, restructure the business system and privatize the State-owned enterprises. He appraised the realistic and effective relationship between Viet Nam and the IMF, especially in policy consultancy, banking and finance.
Meanwhile, John Nelmes, who led the IMF expert delegation, hailed Vietnamese economic improvements, particularly in monetary policy management, exchange rate monitoring and the shake-up of the banking system in the past year. He added that the moves help ensure macroeconomic stability, maintain a rational growth rate and assure essential social requirements.
Mr. John Nelmes lauded economic achievements of Viet Nam, referring to monitoring the monetary policy and restructuring the banking system, saying these contributed to stabilizing the macro-economy and maintaining the reasonable economic growth rate. He advocated Viet Nam’s key tasks in reforms, including the fiscal policy as well as re-affirmed the IMF’s commitments in further cooperating with Viet Nam in the future.
The IMF experts agreed with the key missions in Vietnam’s reform process, especially in renovating the fiscal policy, and revamping the banking system and enterprise restructuring. Visiting experts from the International Monetary Fund (IMF) affirmed their fund’s further collaboration with Vietnam in the coming time.
