Vietnam Foreign Debts Rise 13.31 per cent to US$21.816B in 2008: Finance Ministry
Vietnam’s total foreign debts in 2008 rose 13.31 per cent to US$21.816 billion from US$19.252 billion a year ago, according to the Finance Ministry.
The foreign debt of Vietnam accounted for 29.8 per cent of its GDP value by the end of 2008, lower than the 32.5 per cent of GDP in 2007, the MOF noted.
Of the total value of the foreign debt that the Southeast Asian country owed last year, the government’s foreign debts made up US$18.916 billion and the remaining US$2.9 billion came from government-insured debts, the MOF said.
Vietnam owed US$6.77 billion to Japan, US$911 million to France, US$607 million to Russia, and US$257 million to Germany, the MOF added.
Vietnam also borrowed US$4.863 billion from the International Development Agency (IDA), and US$2.623 billion from the Asian Development Bank (ADB) and US$100 million to US$200 million from International Monetary Fund. (Saigon Economic Times)
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