SBV Governor Nguyen Van Binh meets with World Bank Vice President Axel van Trotsenburg

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SOURCE: Vietnam Central Bank

Addressing his guest, Governor Nguyen Van Binh highly appreciated WB’s support and assistance to Vietnam over the past years, especially the funding from IDA resources. He expressed his strong hope that the WB will continue providing IDA resources to assist Vietnam’s socio-economic development.

In addition, Governor Nguyen Van Binh also informed the WB Vice President of the recent lowering of key interest rates in order to encourage credit institutions to further extend credit for effective projects, and production and business of enterprises. In the coming months of 2014, he said, the SBV will continue pursuing the monetary policy in a flexible manner in conjunction with the fiscal policy to control inflation, stabilize macro-economy, support economic growth at a reasonable level, ensure the liquidity of credit institutions and the economy; and flexibly regulate open market operations, interest rates and exchange rates in line with the macro-economic development and inflation movement.

Regarding the implementation of the scheme on restructuring credit institutions, Governor Nguyen Van Binh said that the SBV has taken consistent measures of restructuring the system of credit institutions in accordance with the roadmap. At the same time, he added, the SBV will surely meet the restructuring goals in the 2011-2015 period, thereby developing the safe and sound banking sector in the context of globalization and international economic integration.

For his part, WB Vice President Axel van Trotsenburg highly appreciated SBV’s managing measures over the past time, especially the monetary policy, thereby contributing to curbing inflation, stabilizing macro economy and ensuring social protection.

DH

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