Vietnam denies plan for IMF loan
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The deputy governor of Vietnam's central bank, Le Minh Hung, rejected a rumour that Vietnam had to ask for a loan from the International Monetary Fund (IMF) to deal with bad debts.
Hung stated that the IMF and the Vietnamese Government had never discussed, nor intended to discuss access to IMF's credit.
The deputy governor explained that the purpose of the IMF’s loans is to assist countries with temporary difficulties, meeting their balance of payments and maintaining adequate foreign exchange reserves for the future.
Both the Vietnamese government and the IMF have assessed that Vietnam’s macro-economic situation has shown positive and stable signs. Trade balance, current accounts and overall balance have a high surplus, while the market and public remain confident of economic stability.
“With these there is no reason to access IMF’s credit,” said Hung.
