Within the framework of the 93rd Annual General Meeting of the Bank for International Settlements (BIS) between June 23-25, 2023 held in Basel, Switzerland, Governor Nguyen Thi Hong the State Bank of Vietnam (SBV) had side meetings with several international partners.
Governor Nguyen Thi Hong meets BIS General Manager Agustin Carstens
At the meeting with Mr. Agustin Carstens, General Manager of the BIS, Governor Nguyen Thi Hong shared briefly with Mr. Carstens about Vietnam’s economic situation in the first half of 2023 and the orientations for the monetary policy management in the coming time. The SBV Governor also expressed her sincere thanks to the BIS’s leadership for having supported the SBV in the process of acceding to and familiarizing with the cooperative mechanisms within the BIS.
Besides, the SBV Governor also affirmed that Vietnam is committed to putting the best efforts in cooperating with the BIS to successfully organize the high-level Conference on the forex management in Vietnam, which is scheduled to take place in September 2023 and is expected to be the first big event jointly organized by Vietnam and the BIS.
For his part, BIS General Manager Agustin Carstens congratulated Vietnam on the successes in the management of the monetary policy in 2022 and during the first months of 2023. The BIS General Manager also expressed his beliefs that Vietnam would successfully organize the High-Level Forex Management Conference in September 2023.
Governor Nguyen Thi Hong meets BoE Governor Andrew Bailey
At the meeting with Mr. Andrew Bailey, Governor of the Bank of England (BoE), Governor Nguyen Thi Hong provided some updated information about the economic situation in Vietnam. The two sides also discussed about the mechanisms to handle with a financial crisis, the M&A of bankrupted banks, the liquidity support, the supervision and inspection, etc. Toward the end of the meeting, the SBV Governor also expressed her sincere thanks to BoE Governor Andrew Bailey for having shared his practical experience, and emphasized that this experience would be helpful for the SBV to improve the efficiency of the management and the handling of poor-performing banks. The SBV Governor hoped for further cooperation with the BoE in the future.
SBV Governor Nguyen Thi Hong meets SNB Governor Thomas Jordan
Another side meeting that SBV Governor Nguyen Thi Hong had was with Mr. Thomas Jordan, Governor of the Swiss National Bank (SNB). The purpose of this meeting was to exchange experience in handling poor-performing banks in Switzerland over the past years. According to the SBV Governor, the SBV is very much interested in learning the SNB’s experience in handling with poor-performing banks, especially through the liquidity support.
SNB Governor Thomas Jordan expressed the willingness to share the SNB’s experience in managing and handling with poor-performing banks in Switzerland, and believed that the SBV would be successful in managing the operations of the banking system in Vietnam.
Toward the end of the meeting, Governor Nguyen Thi Hong expressed her sincere thanks to Governor Thomas Jordan in particular and the colleagues at the SNB in general for their cooperation over the past time, and hoped to continue to receive the support and cooperation from the SNB in the future.
Le Hang