SBV Deputy Governor Nguyen Thi Hong (Source: VNA) Hanoi (VNA) – The State Bank of Vietnam (SBV) has set the 2019credit growth target equivalent to the previous year at about 14 percent,according to SBV Deputy Governor Nguyen Thi Hong.
Credit will still be focused on priority fields,ensuring risk control and supporting economic growth, she said at a pressconference in Hanoi on January 7.
In 2018, the SBV concertedly and flexiblyimplemented monetary policy instruments to stabilise the currency and foreignexchange markets, contributing to controlling inflation at 3.54 percent (thefifth consecutive year when inflation was curbed below 4 percent) andsupporting economic growth at 7.08 percent – the highest level in the past 11years.
Director of the SBV Department of MonetaryPolicy Pham Thanh Ha said that the restructuring of credit institutions andsettlement of bad debt have been promoted with many positive changes.
As of December 2018, the whole credit institution system handled 149.22trillion VND (6.4 billion USD) of bad debt, he noted.
Director of the SBV Department of Payments Pham Tien Dung said that so far, 76credit organisations have provided online payment services through the internet,while 41 others have offered services through mobile phones.
SBV Deputy Governor Nguyen Thi Hong said the bank will continue adoptingflexible and harmonious monetary, fiscal, and macroeconomic policies to keepinflation under 4 percent again this year.
The bank will keep a close watch on the developments of the macroeconomy, aswell as domestic and international financial and monetary markets; whilemonitoring monetary policy instruments in a proactive and prudent way tostabilise the currency and foreign exchange markets.
It will actively implement measures to limitdollarisation in the country and increase public confidence in VND, thuscontributing to stabilising the foreign currency and macroeconomic markets.
The SBV will direct credit institutions toincrease the quality of credit packages, focusing on the Government’s prioritybusiness fields, and enabling businesses and locals to access credit capital.
It will improve a legal framework to support baddebt settlement and the reshuffle of credit organisations, Hong added. –VNA
Credit will still be focused on priority fields,ensuring risk control and supporting economic growth, she said at a pressconference in Hanoi on January 7.
In 2018, the SBV concertedly and flexiblyimplemented monetary policy instruments to stabilise the currency and foreignexchange markets, contributing to controlling inflation at 3.54 percent (thefifth consecutive year when inflation was curbed below 4 percent) andsupporting economic growth at 7.08 percent – the highest level in the past 11years.
Director of the SBV Department of MonetaryPolicy Pham Thanh Ha said that the restructuring of credit institutions andsettlement of bad debt have been promoted with many positive changes.
As of December 2018, the whole credit institution system handled 149.22trillion VND (6.4 billion USD) of bad debt, he noted.
Director of the SBV Department of Payments Pham Tien Dung said that so far, 76credit organisations have provided online payment services through the internet,while 41 others have offered services through mobile phones.
SBV Deputy Governor Nguyen Thi Hong said the bank will continue adoptingflexible and harmonious monetary, fiscal, and macroeconomic policies to keepinflation under 4 percent again this year.
The bank will keep a close watch on the developments of the macroeconomy, aswell as domestic and international financial and monetary markets; whilemonitoring monetary policy instruments in a proactive and prudent way tostabilise the currency and foreign exchange markets.
It will actively implement measures to limitdollarisation in the country and increase public confidence in VND, thuscontributing to stabilising the foreign currency and macroeconomic markets.
The SBV will direct credit institutions toincrease the quality of credit packages, focusing on the Government’s prioritybusiness fields, and enabling businesses and locals to access credit capital.
It will improve a legal framework to support baddebt settlement and the reshuffle of credit organisations, Hong added. –VNA
VNA
