Bangkok, Thailand, October 13–14, 2026 – Governor Pham Duc An of the State Bank of Vietnam (SBV) led an SBV delegation to the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG). On the sidelines of the Meetings, Governor Pham Duc An held a series of bilateral meetings with leaders of international financial institutions and central banks to strengthen policy dialogue, deepen cooperation, and mobilize resources for Vietnam’s socio-economic development.
As part of the Meetings, Governor Pham Duc An attended a roundtable discussion between IMF Managing Director Kristalina Georgieva and ASEAN finance ministers and central bank governors. Participants exchanged views on the global and regional economic outlook, the impact of geopolitical tensions and developments in trade and energy markets, and policy measures to strengthen economic resilience.
Overview of the meeting
Following the roundtable, Governor Pham Duc An attended the 57th Joint Meeting of the Southeast Asia Voting Group (SEAVG) at the IMF and the World Bank Group. Discussions focused on institutional reforms and ways to enhance the effectiveness of the two institutions’ support for member countries. The IMF’s priorities included macroeconomic surveillance, policy advice, technical assistance, and reforms to its governance and quota system. The World Bank Group, meanwhile, focused on resource mobilization, private investment, infrastructure development, digital transformation, and sustainable growth. Vietnam’s participation helped strengthen its voice in multilateral cooperation and deepen its engagement with both institutions.
At a meeting with Mr. Krishna Srinivasan, Director of the IMF’s Asia and Pacific Department, Governor Pham Duc An exchanged views on the global, regional, and Vietnamese economic outlook, as well as challenges in monetary policy management. The Governor reaffirmed that the SBV would continue to conduct monetary policy in a proactive and flexible manner, contributing to inflation control, macroeconomic stability, and the safety of the banking system. He also expressed appreciation for the IMF’s continued support and called for further strengthening policy dialogue and technical assistance.
Regarding central bank cooperation, Governor Pham Duc An met with Mr. Chia Der Jiun, Managing Director of the Monetary Authority of Singapore (MAS), to review ongoing cooperation and explore opportunities for further collaboration between the SBV and MAS. Key areas of discussion included cross-border payment connectivity, digital banking, financial technology, and financial inclusion. The Governor expressed his hope that the two sides would continue to advance bilateral and ASEAN-level initiatives to improve financial services for individuals and businesses.
SBV Governor Pham Duc An holds bilateral talks with the Managing Director of MAS
Also on the sidelines of the Annual Meetings, Governor Pham Duc An met with Mr. Emmanuel Moulin, Governor of the Banque de France. The two central bank leaders exchanged experiences in monetary policy management amid global uncertainty, strengthening banking system resilience, and addressing emerging financial risks. They also discussed developments in digital currencies and financial technology, innovation in payment infrastructure, and prospects for closer cooperation between the two central banks.
SBV Governor Pham Duc An meets with the Vice Presidents of the World Bank Group and IFC
Mobilizing resources for the private sector was another key focus of the Governor’s meeting with Mr. Sarvesh Suri, IFC Vice President for Asia and the Pacific, and Mr. Jorge Familiar, Vice President of the World Bank Group. Governor Pham Duc An acknowledged the contributions of the IFC and the World Bank Group to the development of Vietnam’s private sector and called on both institutions to continue supporting long-term financing, strengthening the capacity of financial institutions, and promoting investment in manufacturing, agriculture, financial inclusion, and infrastructure. The discussions also covered measures to attract international capital and encourage greater private sector participation in economic development.
Governor Pham Duc An meets with ADB President Masato Kanda
At his meeting with Mr. Masato Kanda, President of the Asian Development Bank (ADB), Governor Pham Duc An highly valued the ADB’s role and continued support for Vietnam’s socio-economic development. The two sides discussed opportunities to expand cooperation in infrastructure development, the green transition, digital transformation, private sector development, and capital market development.
The Governor noted that, as Vietnam progresses toward upper-middle-income status, substantial financing on appropriate terms remains essential, particularly for strategic infrastructure projects, renewable energy, agriculture and rural development. These sectors are important for sustaining long-term growth, reducing logistics costs, and promoting sustainable development. However, projects in these areas often require substantial upfront investment, have long payback periods, and generate relatively modest returns in their early stages.
Against this backdrop, Governor Pham Duc An called on the ADB to consider more flexible financing mechanism combining concessional and ordinary lending instruments to offer more favorable financing terms. In particular, he proposed lower interest rates and borrowing costs, together with longer loan tenors, to better reflect Vietnam’s development needs and the specific characteristics of its investment projects.
He also called on the ADB to strengthen coordination with other international financial institutions to harmonize procedures, avoid duplication, and improve the efficiency of resource mobilization and utilization. The Governor reaffirmed Vietnam’s commitment to ensuring the effective use of borrowed funds and meeting its debt repayment obligations fully and on time.
On this occasion, Governor Pham Duc An also visited the Embassy of Vietnam in Thailand and met with Mr. Pham Viet Hung, Ambassador Extraordinary and Plenipotentiary of Vietnam to the Kingdom of Thailand. Discussions focused on measures to promote financial and banking cooperation between the two countries and facilitate the operations of Thai banks in Vietnam. The Governor emphasized the importance of closer coordination and information sharing between the SBV and the Embassy to address difficulties promptly, expand cooperation opportunities, and further strengthen Vietnam–Thailand economic and financial ties.