Vietnam: Staff Report for the 2012 Article IV Consultation
International Monetary Fund, Jul 6, 2012 - Business & Economics - 61 pages
This 2012 Article IV Consultation focuses on the financial sector and macroeconomic situation in Vietnam. The authorities adopted a stabilization package in February 2011 in response to increasing pressures on prices and the exchange rate in late 2010. Executive Directors commended the tightening of macroeconomic policies in 2011, which contributed to declining inflation, stabilizing the exchange rate, and a rebuilding of international reserves. Directors also recommended that monetary policy give priority to reducing inflation and rebuilding reserves further.
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Article IV consultation AsDB Asian Development Bank Assessment balance in percent Bank of Vietnam baseline scenario concessional contingent liabilities credit growth Current account balance debt sustainability debt-to-GDP ratio deposits dollars domestic dong economy end of period estimates and projections Executive Board Exports shock financial sector foreign currency foreign exchange market Fund gender GNFS IBRD IMF staff estimates IMF’s improving increase inﬂation infrastructure interbank exchange rate interest rates International Monetary Fund lending loans macroeconomic medium term million monetary policy months of prospective NPLs percent change percent of GDP policy credibility poverty reduction PPG external debt PRSC Public and Publicly public debt public sector debt rate cuts reduce reﬂect remittances restructuring revenue risks SEDP slowdown small weak banks SOEs Sources statistics strengthened stress tests Total unless otherwise indicated Vietnamese authorities Vietnamese dong World Bank World Bank Group