During March 10-11, 2024, a Delegation of the State Bank of Vietnam (SBV) led by Governor Nguyen Thi Hong attended the regular Governors’ Meetings of the Bank for International Settlements (BIS) in Basel, Switzerland. The members of the Delegation also included representatives of the International Cooperation Department, the Forecasting and Statistics Department, and the Department of Credit for Economic Sectors.
SBV Delegation and BIS Representative Office for Asia and the Pacific
Within the framework of the Delegation’s working activities, Governor Nguyen Thi Hong attended the Meeting of the BIS Asian Consultative Council (ACC), the Global Economy Meeting (GEM), and the All Governors’ Meeting of the BIS. In addition, the Governor also had bilateral working sessions with the Reserve Bank of Australia (RBA), and the BIS Office for Asia and the Pacific.
Governor Nguyen Thi Hong and RBA Governor Michele Bullock
At the meeting with the RBA Governor, Governor Nguyen Thi Hong congratulated Ms. Michele Bullock on being appointed as the first female Governor of the RBA (from September 2023), and expressed her beliefs that under Governor Michele Bullock’s leadership and with her extensive experience in the banking and finance sector, the RBA would continue to achieve more progress in operating the monetary policy and addressing the emerging challenges.
In addition, the two sides also shared about the macro-economic situations of the two countries, the prospects for economic cooperation in general, as well as for the two banking sectors in particular in the context of upgrading the bilateral ties to comprehensive strategic partnership between Vietnam and Australia, which was announced during the recent official visit of Vietnamese Prime Minister Pham Minh Chinh to Australia.
At the meeting with the BIS Chief Representative for Asia and the Pacific, Governor Nguyen Thi Hong expressed her high appreciation for the coordination and the strong support of the BIS Representative Office for Asia and the Pacific over the past time, especially in the co-organization of the High-Level Conference on Reserve Management, and the arrangements for the working visit of the BIS Delegation headed by General Manager Agustín Carstens to Vietnam in late 2023. The SBV Governor also complimented the BIS Representative Office for Asia and the Pacific for having initiated a lot of practical discussion topics for the ACC meetings over the past time. The SBV Governor affirmed that the SBV would continue to be an active member of the ACC, and suggested that the BIS Representative Office for Asia and the Pacific continue to create more opportunities for the SBV officials to participate in the secondment program at the BIS.
Governor Nguyen Thi Hong and BIS Chief Representative for Asia and the Pacific
On the sidelines of the BIS Meetings, the SBV Delegation also had bilateral working sessions with the BIS functional units, as well as with other central banks. At these sessions, the parties discussed a wide range of topics, from the statistical work to the improvement of the data quality, as well as credit and green finance, etc.
Le Hang