The State Bank of Vietnam (SBV) should closely combine the monetarypolicy with the fiscal policy to continue effectively implementingmeasures to curb inflation, stabilise the macro economy and ensuresocial welfares.
Prime Minister Nguyen Tan Dungmade the request while attending a meeting marking the 60 th foundinganniversary of the Vietnamese banking sector (May 6, 1951-2011) andpresenting the Ho Chi Minh Order to the sector in Hanoi on April 27.
The central bank should exercise proactive andflexible monetary tools and policies and continue keeping a close watchon the monetary market so as to timely deal with unreasonable issues oninterest rates, ensuring liquidity and gradually forming a stable andsuitable inter-bank interest rate in parallel with ensuring the safetyand liquidity for credit organisations, Dung said.
“The SBV needs to handle the monetary market and foreign exchange ratein an active and flexible manner in order to encourage exports, improvethe international payment balance, increase foreign currency reserves,prevent foreign currency speculations and reduce the dollarisation ofthe economy,” he stressed.
The Government leaderpraised the banking sector’s efforts and achievements over the past 60years, making practical contributions to the national development.
In the renewal process, the Vietnamese banking sector has been able torenovate monetary policies and mechanisms, making them suitable to thecountry’s situation as well as in line with international rules,actively contributing to developing a multi-sectoral economy and curbinginflation, the PM said.
He noted that the SBV’sperformance of its function of State management of monetary and bankingoperations as well as the functions of a central bank has beenimproving, adding that the system of credit organisations and banks forpolicies has continuously developed with a stable legal environment.
The PM also praised the well-trained banking staff, who have masteredmodern technologies for fulfilling their tasks over the past 60 years./.