Consultative Group to convene on December 10
The World Bank has announced that the bi-annual Consultative Group
meeting for Vietnam will be held in Hanoi on December 10 focusing on
the elements laying the foundation for Vietnam's sustainable
growth.
The World Bank has announced that the bi-annual Consultative Group
meeting for Vietnam will be held in Hanoi on December 10 focusing on
the elements laying the foundation for Vietnam's sustainable
growth.
Speaking at a press conference on Dec 5, Deepak Mishra, leading economist for the bank in Vietnam , said the country will continue to face many risks to its macro-economy stability. He predicted the nation's real Gross Domestic Product ( GDP ) would grow at 5.2 percent at the end of 2012 instead of the planned 6.5 percent.
The risks include high-core inflation and low levels of foreign-exchange reserves, a vulnerable banking sector – and delays in equitisation of State-owned enterprises.
World Bank country director Victoria Kwakwa said donors had been talking about making changes to the Consultative Group's platform as Vietnam entered a new stage of development, noting that in the future it would move away from resources mobilisation to candid conversation on all solutions.
"It's more about policy dialogue, not so much about the money," she said.
Still, donors are expected to release a new funding commitment for Vietnam in 2013 at the end of this year's meeting. Last year, donors pledged nearly 7.4 billion USD in Official Development Assistance for the country.-VNA
Speaking at a press conference on Dec 5, Deepak Mishra, leading economist for the bank in Vietnam , said the country will continue to face many risks to its macro-economy stability. He predicted the nation's real Gross Domestic Product ( GDP ) would grow at 5.2 percent at the end of 2012 instead of the planned 6.5 percent.
The risks include high-core inflation and low levels of foreign-exchange reserves, a vulnerable banking sector – and delays in equitisation of State-owned enterprises.
World Bank country director Victoria Kwakwa said donors had been talking about making changes to the Consultative Group's platform as Vietnam entered a new stage of development, noting that in the future it would move away from resources mobilisation to candid conversation on all solutions.
"It's more about policy dialogue, not so much about the money," she said.
Still, donors are expected to release a new funding commitment for Vietnam in 2013 at the end of this year's meeting. Last year, donors pledged nearly 7.4 billion USD in Official Development Assistance for the country.-VNA
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