IMF cuts Vietnam’s inflation forecast to 9.5pct in 2011

According to IMF’s regional economic outlook, Vietnam has overcome the global crisis thanks to the substantial financial stimulus package worth 5 percent of its GDP and monetary easing policies. The IMF commented that Vietnam is of the fastest growing economies in Asia. In 2010, Vietnam posted a growth of 6.8 percent thanks to demand for both domestic and international growth. However, the expansion policy adopted during the crisis also has increased macroeconomic risks.

IMF talks about exchange rate and interest rate issues in Vietnam

Talking about the gap of nearly 2,000 dong per US dollar between official and unofficial FX rate and the sudden rises of saving and lending rates in the recent weeks, Bingham said the first thing is to determine where the pressure on FX market comes from. According to IMF’s representative, the pressure does not come from the shortage of supply. If looking at the balance of payments, current account deficit is fairly large, but it could be offset by FDI inflows.

Vietnam public debts likely to fall to 40pct by 2020: IMF

The IMF representative urged the Vietnamese government to boost public savings, improve use of foreign loans, and encourage public-private partnership (PPP) model in infrastructure projects, in order to keep public debts under control.

Vietnam hits back at IMF criticism

The Vietnamese government has been forced into a series of rapid shifts in macro-economic policy over the last three years as it was buffeted first by a bout of high inflation, then the global slowdown and, most recently, fears about a possible currency crisis. The central bank has devalued its currency, the dong, three times since November in a bid to stem the downward pressure on the currency, which has been driven by concerns about Vietnam’s large trade and budget deficits.

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