Prime Minister Nguyen Tan Dung has said that the Vietnamese governmenthas no need to ask for loans from the International Monetary Fund (IMF)or the ASEAN Plus Three to resolve internal economic issues given thecountry’s positive macro economic situation, payment balance, foreigncurrency reserve and market confidence at present.
PrimeMinister Nguyen Tan Dung made the affirmation while answering VietnamNews Agency’s query regarding Indonesian President Susilo BambangYodhoyono’s remarks on the the sidelines of the 20 APEC Summit heldrecently in Vladivostok, Russia.
PresidentYodhoyono was quoted as saying that “Indonesia and other fellow ASEANmembers will be ready to help Vietnam through the crisis without thecountry having a bailout from the International Monetary Fund.”
PM Dung said under the agreement on the Chiang Mai InitiativeMultilateralisation (CMIM), which Vietnam is an active member, allmember countries have the right to approach the loan when they needurgent assistance to address short-term payment balance and foreigncurrency liquidity in order to stabilise the macro economy and monetarymarket.
The government leader said since early 2012, theVietnamese macro economy has seen positive changes. The eight-monthperiod inflation rate was kept at 2.86 percent and the annual rate isexpected at about 6 percent.
The current account balancesurplus exceeded 6 billion USD, while the overall balance of paymentssurplus was about 8 billion USD, PM Dung said, adding that the stateforeign currency reserves doubled the level of the beginning of the yeartogether with stable foreign exchange market and exchange rate.
In addition, the country’s exports increased by nearly 20 percentwhile trade deficit accounted for nearly 1 percent of the totalexport-import value. GDP growth rate of the following quarter was higherthan the previous one and is estimated to reach 5.5 percent for thewhole year.
Restructuring the economy in general and thebanking sector in particular has reached preliminarily positive results,the government leader said.
He affirmed that theseachievements and the government’s orientation of macro economic policyhave been highly valued by the market and international community.
TheVietnamese government continues to maintain the close relationship,within the cooperation framework with the IMF and the ASEAN Plus Three,including the regular macro economic supervision activities, the PMadded.-VNA