Vietnam c.bank committed to ensuring stability of monetary market
The State Bank of Vietnam is ready to sell foreign currency to ensure forex market stability if necessary.
The State Bank of Vietnam is ready to sell foreign currency to ensure forex market stability if necessary.
Fitch Solution revised its forecast for Vietnam’s credit growth to come in at 11% in 2020, from 12.50% previously.
The cut is made to refinancing interest rate, discount interest rate, and interest rate applicable to overnight loans, starting effective from today.
Over 93% of enterprises in Vietnam would benefit from such a prolongation.
Restructuring debt maturities would be considered upon requests from customers and assessment from the banks regarding borrowers’ financial capabilities and their losses.
The central bank is willing to support liquidity for credit institutions, if needed, as they start providing financial support for the economy.
Banks could consider restructure debt payment period or lower interest rates for enterprises and individual customers facing difficulties from the epidemic.
Fitch analysts were upbeat about continued strong economic growth in Vietnam, which makes near-term stress unlikely and underpins their stable outlook for the banking sector.