State Audit reports on central bank’s 2011 performance
The State Bank of Vietnam has adhered to the Government's
instructions in 2011 to implementing a tight monetary policy, adjusting
interest rates in line with market signals and keeping exchange rates
stable.
The State Bank of Vietnam has adhered to the Government's
instructions in 2011 to implementing a tight monetary policy, adjusting
interest rates in line with market signals and keeping exchange rates
stable.
The online newspaper VnEconomy quoted the State Audit's report on the State Bank's performance in 2011.
However, the State Audit said the central bank management must be held responsible for lending growth failing to reach its target and bad debts continuing to rise since 2007.
The State Bank's inspection and supervision on refinancing loans was also referred to as "untimely" or "incomplete".
The State Audit said that some commercial banks borrowing refinancing loans had violated regulations on capital adequacy but the central bank did not warn, prevent and handle the matter quickly enough.
As for commercial banks, the State Audit said most had followed legal regulations on lending and credit growth. However, some banks had gathered and finished legal and economic documents before lending was incomplete. Control before, during and after lending was not strict.-VNA
The online newspaper VnEconomy quoted the State Audit's report on the State Bank's performance in 2011.
However, the State Audit said the central bank management must be held responsible for lending growth failing to reach its target and bad debts continuing to rise since 2007.
The State Bank's inspection and supervision on refinancing loans was also referred to as "untimely" or "incomplete".
The State Audit said that some commercial banks borrowing refinancing loans had violated regulations on capital adequacy but the central bank did not warn, prevent and handle the matter quickly enough.
As for commercial banks, the State Audit said most had followed legal regulations on lending and credit growth. However, some banks had gathered and finished legal and economic documents before lending was incomplete. Control before, during and after lending was not strict.-VNA
You should also see
World economy’s recovery drives Vietnam’s exports
With the recovery of the world market and increasing orders, Vietnam's import and export activities in the first quarter of 2024 prospered and achieved positive results.
See more
Business
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
Business
Cam Lam - Vinh Hao Expressway to help drive south-central region's economy
The 78.5km Cam Lam - Vinh Hao Expressway, one of the three sub-projects of the North - South Expressway project’s eastern wing, officially opened to traffic on April 26.
Business
Vietnam needs drastic reforms to create firm ground for economic growth: experts
Drastic institutional reforms are needed to create firm ground for economic growth in the context that persistent challenges, both external and internal, still cloud the growth prospect, experts have said.
Business
Dak Lak firm pioneers in following EUDR in coffee production
The Dak Lak September 2 Import-Export Company Limited (Simexco) has pioneered in building coffee growing areas following the EU Deforestation Regulation (EUDR), it announced on April 25.
Business
Energy industry needs nearly 5 trillion VND of investment in 2021-2030
The total investment capital demand for the whole energy sector in the 2021-2030 period is between 4.13-4.8 trillion VND (163.01-189.46 million USD), according to a plan to implement the National Power Planning in the 2021-2030 period with a vision to 2050.
