The Hanoitimes - On March 16, at the headquarters of the State Bank of Vietnam (SBV), Nguyen Van Binh, member of the Politburo, the SBV Governor had a meeting with Ms. Christine Lagarde, Managing Director of International Monetary Fund (IMF).
At their meeting, Governor Nguyen Van Binh told Managing Director Christine Lagarde that Vietnam is comprehensively switching to a market economy and considers this the guiding principle of steering the economy. Binh said that this is an important point in the documents issued by the Vietnamese Party and Government.
SBV Governor Nguyen Van Binh talked with IMF Managing Director Christine Lagarde
He highly valued the IMF’s assistance to Vietnam along with its support and policy advice. In particular, the assessment and advice of the IMF on the 2014 Article IV consultation have greatly contributed to the country’s success in monetary policies and bank restructuring, which in turn has helped stablise the macro-economy and ensure public social welfares.
He stressed that the next five years are very important to Vietnam as achievements during this period will create a firm foundation for growth and sustainable development in the future. Hence, the Southeast Asian nation wants to receive more technical assistance, training and policy advice from the IMF.
Christine Lagarde spoke highly of the resolve and policy direction of the Vietnamese Government and the SBV to maintain macro-economic stability, monetary and banking market stability and an optimal business climate.
She added that the IMF will further support Vietnam through providing policy advice, training and technical assistance for Government agencies and the SBV, and help the nation connect to and share experience with other IMF member countries that have similar economic features.
IMF chief Christine Lagarde suggested solutions to strengthen fiscal policy and spur growth. The country should try to increase its income and improve the efficient use of capital, thus ensuring the sustainability of public debt, she recommended. The IMF always stands ready to coordinate and provide technical aid for the Vietnamese finance ministry, she said, expressing her belief that the cooperation will help Vietnam fulfill its socio-economic development targets.
Ms Lagarde said that the IMF will continue to support and accompany with Vietnam in the near future and will continue to provide policy advice, training and technical support for the government and central bank authorities, connect and share experiences between the member countries, conditional and similar economic circumstances to help Vietnam complete the reform program and successfully implement initiatives and tasks that Congress 12 had suggested.
By Anh Kiet