On December 14, 2018, Governor Le Minh Hung of the State Bank of Vietnam (SBV) had a meeting with the mission of the International Monetary Fund (IMF) in Vietnam to review and update the macro-economic, financial and banking situations in Vietnam.
At the meeting, Mr. Alexanderos Mourmouras, Head of the IMF Mission, discussed with the SBV Governor on the results of the Mission’s working sessions with the authorities, enterprises, banks and investment funds in the public and private sectors. He expressed his pleasure at the encouraging results of Vietnam in 2018 and said that the IMF Mission has high valuation for the SBV’s management of the monetary policy and the banking sector, helping to control the inflation at below 4%, stabilizing the exchange rates and the forex market, thereby supporting the macro-economic stability. The IMF Mission also applauded the SBV’s regulations and the management of the macro prudence issued in 2018, as well as the efforts of the banking industry in the implementation of the regulations of Basel II in line with the set-out roadmap.
Mr. Alexanderos Mourmouras, Head of the IMF Mission has high valuation for the SBV’s management of the monetary policy and the banking sector
For his part, Governor Le Minh Hung stated that the SBV is always consistent with the management of the monetary policy to control the inflation and stabilize the macro-economy. In the banking sector, the SBV has been drastically accelerating the process of restructuring the system of credit institutions and resolving NPLs, thereby enhancing the disciplines of the monetary and banking operations. He added that the SBV would strictly implement the roadmap for applying Basel II in the whole banking sector.
Le Hang