Deputy Prime Minister Le Minh Khai (Photo: VNA) The Deputy PM cited the State Bank ofVietnam (SBV) Governor’s affirmation as saying that the increasing inflation does not come from recent monetary policies, especially in the first fivemonths of this year, but from the rise in prices of commodities.
He said that the Government will continue to stick to NA resolutions and keep aclose watch on the domestic situation to manage monetary tools and policies inan active, flexible and synchronous manner, aiming to curb inflation,stabilise the monetary and foreign exchange markets, while drastically implementingmonetary policy solutions to support the implementation of the socio-economicrecovery and development programme.
The Government will also make sure that interest rate management will match macrobalances as well as inflation and monetary policy targets, and continue to removedifficulties for and support COVID-19-hit businesses and ensure safety for bankingactivities, he stated.
Regarding credit room, an issue that draws NA deputies’ attention, Deputy PM askedthe SBV to consider the regulations, conditions and criteria for granting morecredit rooms to ensure coherence.
Over the restructuring of credit institutions, he said that legal framework inthe field has been completed, resulting in positive changes in their scale,financial capacity, credit quality and operational efficiency, contributing to mobilisingresources for socio-economic development, especially for prioritised sectors.
He noted that the PM has issued Decision No. 689/QD-TTg approving a project torestructure credit institutions in association with the settlement of bad debts inthe 2021-2025 period, which provides many measures to enhance the efficiencyand transparency of the banking sector and ensure safety for the bankingsystem. The decision also sets targets in application of Basel II standards forbanks, aiming to make Vietnam one of the four leading countries in ASEAN in thefield in 2025, he added.
Mentioning measures to deal withinefficient banks, he said that so far, the Government hasreceived directions from the Politburo for a report on the plan to settle fourweak commercial banks. Accordingly, the Government will direct the SBV to givespecific plans to seek approval in the time to come, he added.
Over the control of credit in securities, bond and real estate sectors, Deputy PM Khai saidthat the Government and the PM have equested the SBV to make sure that creditmanagement activities fully and promptly meet the capital demand for businessactivities, guiding credits to prioritised sectors in parallel with tightcontrol of risky areas./.
VNA
