Bangkok (VNA) – A delegation from the State Bank of Vietnam (SBV), led by Governor Pham Duc An, participated in key activities in Bangkok, Thailand, on October 13-14 within the framework of the ongoing 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB) Group.
Taking place from October 12-18, the meetings bring together finance ministers, central bank governors and representatives of 191 member economies. Their return to Bangkok for the first time in 35 years highlights Asia’s growing importance in the global economy and financial system.
At a roundtable between IMF Managing Director Kristalina Georgieva and ASEAN finance ministers and central bank governors, An and other participants discussed global and regional economic prospects, the impacts of geopolitical, trade and energy fluctuations, and policies to strengthen economic resilience.
The discussions highlighted four key messages. The global economy remains resilient but recovery is uneven; vulnerable economies face mounting challenges; government borrowing costs are rising; and growing global public debt makes it urgent to rebuild fiscal buffers.
Participants stressed the need to maintain macroeconomic stability, strengthen policy space, accelerate structural reforms, seize opportunities from digital transformation and artificial intelligence (AI), and enhance multilateral cooperation to withstand external shocks.
ASEAN central bank governors and finance ministers praised the IMF’s role in economic surveillance, policy advice and capacity building, while calling for stronger analysis of spillover effects, greater experience-sharing and recommendations tailored to individual countries.
The Vietnamese Governor underscored the complementary roles of global and regional financial cooperation mechanisms, including the Chiang Mai Initiative Multilateralisation (CMIM) and the ASEAN+3 Macroeconomic Research Office (AMRO). He also highlighted the importance of technical assistance in fintech, digital transformation, cybersecurity and risk management.
At the 57th Joint Governors’ Meeting of the IMF-WBG Southeast Asia Voting Group (SEAVG), participants discussed reforms to the two institutions and ways to improve their support for member economies. The IMF focused on macroeconomic surveillance, policy advice, technical assistance and governance and quota reforms, while the WB prioritised resource mobilisation, private investment, infrastructure, digital transformation and sustainable growth.
During a meeting with Head of the IMF Asia and Pacific Department Krishna Srinivasan, An exchanged views on global, regional and Vietnamese economic prospects and policy challenges. He affirmed that the SBV will continue to manage monetary policy proactively and flexibly to control inflation, maintain macroeconomic stability and safeguard banking system security. He also appreciated the IMF’s support and expressed a desire to deepen policy dialogue and technical assistance.
At a meeting with Managing Director of the Monetary Authority of Singapore (MAS) Chia Der Jiun, the two sides reviewed existing and potential cooperation, particularly in cross-border payment connectivity, digital banking, fintech and financial inclusion. An expressed his wish to advance bilateral and ASEAN initiatives to improve financial services for people and businesses.
Meeting with Bank of France Governor Emmanuel Moulin, the Vietnamese Governor discussed policy management amid global uncertainty, banking system resilience and emerging financial risks. They also exchanged views on digital currencies, fintech, payment infrastructure innovation and prospects for closer professional cooperation between the two central banks.
At a meeting with the IFC’s Regional Vice President for Asia and the Pacific Sarvesh Suri, Governor An acknowledged the IFC’s contributions to Vietnam’s private-sector development and called for continued support in mobilising long-term capital, strengthening financial institutions and promoting investment in manufacturing, agriculture, financial inclusion and infrastructure. He also discussed measures to attract international capital and expand private-sector participation.
Meeting with President of the Asian Development Bank (ADB) Masato Kanda, An explored cooperation opportunities in infrastructure development, green and digital transitions, and private-sector growth.
During the trip, the SBV governor also visited the Vietnamese Embassy in Thailand and met Ambassador Pham Viet Hung to discuss ways to boost bilateral financial and banking cooperation and support Thai banks' operations in Vietnam. He stressed closer coordination and information-sharing between the SBV and the embassy to address difficulties, expand cooperation opportunities and deepen Vietnam-Thailand economic and financial ties./.
