Vietnam’s Public Debt under Control: WB, IMF Experts
Vietnam’s public debt is now under control, according to experts at the World Bank (WB) and the International Monetary Fund (IMF).
A recent analysis made by the WB and IMF showed that Vietnam’s public debt is still at acceptable level, said WB Country Director Victoria Kwakwa. The analysis is based on official figures only.
Risks will emerge if the public debt is too high but its efficiency is low or the loans are not poured into prioritized sectors of the national economy, she added.
“WB believes in Vietnam’s cautious policies and management method and Vietnam knows how to use proper policies and measures.”
WB chief economist in Vietnam Deepak Mishra also said the country’s public debt is not a headache if the economy’s major indexes are secured.
Chief Representative of the IMF in Vietnam Benedict Bingham, meanwhile, urged the local government to raise saving rate and loans’ efficiency and encourage the private sector to actively engage in development projects, especially infrastructure development.
The WB and the IMF will review Vietnam’s public debt in the coming meeting of the Consultation Group (CG), scheduled on December 7-8 in Hanoi. (Vietnamplus)
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