Vietnam Central Bank Proposes 7 Measures to Combat Economic Slowdown
The State Bank of Vietnam, the country's central bank, has said in a statement that it has seven measures requesting all credit institutions in Vietnam to put a break on economic slowdown this year.
The SBV has asked a close watch on developments of the global crisis and improvements of forecasting capacity.
Secondly, the SBV has requested synchronous measures in capital mobilization, modification of debts and adjustments of terms of loans to ensure security of operations of banks.
Thirdly, credit institutions are asked to expand credits effectively with appropriate lending rates to solve cash liquidity for local businesses particularly in agricultural production, exporters, SMEs, consumer goods production to replace exports.
Fourthly, The Bank for Social Po is required to add more liquidity to poor families, students and beneficiaries.
Fifthly, credit organizations must scrutinize and audit internally, manage working capital to ensure safety ratios.
Sixthly, boosting corporate governance is a must.
Finally, credit instructions must update and report regularly to the SBV. (SBV)
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