IMF, ADB Hail Vietnam Efforts To Cushion Impacts of Global Turmoil
International Monetary Fund (IMF) and the Asian Development Bank (ADB) have extolled the efforts adopted by the government of Vietnam to cope with adverse impacts of the global downturn.
Ayumi Konishi, ADB’s country director told the mid-Year Consultative Group Meeting for Vietnam held in Buon Ma Thuot city Jun 8 that with positive signs of the global and regional economies, the worst has been over.
Stabilizing the macroeconomic situation and pushing up reforms of state-owned companies will help boost confidence and mitigate bad impacts on Vietnam’s economy from outside, Ayumi Konishi noted.
There are signs that inflation and current account deficit could possibly return, Ayumi Konishi said, favoring the government of Vietnam’s continued taking cautious monetary policies and stabilizing the forex rates.
Ben Bingham, chief representative of IMF proposed the government should do some adjustments in policies to stabilize the macroeconomic situation this year by tightening monetary policies to raise more funds for the economy and to support the dong.
The government and National Assembly of Vietnam should reach a common consensus in financial plans for 2009, Ben Bingham recommended.
Vietnam’s economy is expected to grow 3.5 per cent this year, Ben Bingham forecast.
During the CG meeting this time, officials also discussed fights against corruption, climate changes, ODA disbursements. (CPV, Young People)
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