Prime Minister Nguyen Tan Dung has askedthe State Bank of Vietnam (SBV) to continue implementing flexiblemonetary policies in order to fulfil its set targets.
While working with the SBV leaders in Hanoi on April 20, theGovernment leader suggested that the SBV continue implementingnegotiable interest rates and strive to reduce the mobilising interestrate to about 10 percent and the lending interest rate to 12-13 percentper year, helping encourage exports and reduce the trade deficit.
State-owned commercial banks must play a key role in capitalmobilisation and lending, he added.
The PM noted that the SBV should continue supervising creditorganisations in providing loans with negotiable interest rates foreffective projects as well as keeping a close watch on commercial banks’foreign currency lending for materials imports.
In addition, the state bank needs to take more initiative inproviding official information, especially in finance, monetary policiesand prices, to keep the public well informed, thus assisting theGovernment in its role in steering socio-economic development.
At the working session, PM Dung also praised the SBV’s efforts inimplementing the government’s resolution on measures to ensuremacroeconomic stability, prevent high inflation and maintain an economicgrowth rate of 6.5 percent in 2010.
In the first quarter of this year, Vietnam attained an economicgrowth rate of 5.8 percent while ensuring social welfare. However,inflation was high and the trade deficit increased 23 percent while theforeign currency payment balance decreased./.
While working with the SBV leaders in Hanoi on April 20, theGovernment leader suggested that the SBV continue implementingnegotiable interest rates and strive to reduce the mobilising interestrate to about 10 percent and the lending interest rate to 12-13 percentper year, helping encourage exports and reduce the trade deficit.
State-owned commercial banks must play a key role in capitalmobilisation and lending, he added.
The PM noted that the SBV should continue supervising creditorganisations in providing loans with negotiable interest rates foreffective projects as well as keeping a close watch on commercial banks’foreign currency lending for materials imports.
In addition, the state bank needs to take more initiative inproviding official information, especially in finance, monetary policiesand prices, to keep the public well informed, thus assisting theGovernment in its role in steering socio-economic development.
At the working session, PM Dung also praised the SBV’s efforts inimplementing the government’s resolution on measures to ensuremacroeconomic stability, prevent high inflation and maintain an economicgrowth rate of 6.5 percent in 2010.
In the first quarter of this year, Vietnam attained an economicgrowth rate of 5.8 percent while ensuring social welfare. However,inflation was high and the trade deficit increased 23 percent while theforeign currency payment balance decreased./.
