On June 25, 2024, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Pham Thanh Ha had a meeting with Ms. Yati Kurniati, IMF Executive Director for the Southeast Asia Voting Group (SEAVG).
An overview of the meeting
At the meeting, Deputy Governor Pham Thanh Ha welcomed Ms. Yati Kurniati to have the first working visit to the SBV on her role as the IMF Executive Director for the SEAVG. The SBV Deputy Governor highly acknowledged Ms. Yati Kurniati’s leadership in particular and the proactiveness and the coordination of the SEAVG in general in the IMF’s reform initiatives and the improvement of the role and position of the SEAVG’s members within the IMF.
Deputy Governor Pham Thanh Ha speaks at the meeting
Sharing about the Government’s and the SBV’s management, the SBV Deputy Governor said that, recognizing the negative effects of the global fluctuations and the difficulties in the domestic economy, the Government of Vietnam, the Ministries and the state agencies have been conducting robust measures to resolve difficulties for businesses and the people, as well as to address the existing obstacles in the real estate and the corporate bond markets; accelerate the capital disbursement for public investment in order to create a momentum for the economic growth. The SBV has managed the monetary instruments in a proactive and flexible manner to promptly support the liquidity for the credit institutions and maintain the stability of the money market in accordance with the objectives of the monetary policy management, contributing to maintaining the macro-economic stability, controlling the inflation, improving the accessibility to bank loans for businesses and the people.
As a result, in the first months of 2024, Vietnam’s economy continued to be on a trend of recovery, which had started from the end of 2023. The economic growth rate for the first quarter of 2024 was estimated at 5.66%, higher than the growth rates of the same periods between 2020 and 2023. The industrial production reached a relative high growth rate; the capital disbursement for public investment was accelerated; the inflation rate was controlled within the range of 4-4.5% as set by the National Assembly.
Ms. Yati Kurniati, IMF Executive Director for SEAVG, speaks at the meeting.
For her part, Ms. Yati congratulated the SBV on the achievements that the Government and the SBV had obtained in the macro-economic management over the past time. She asserted that the SEAVG would continue to closely coordinating with the member countries to achieve consensus and have a single voice on the matters affecting the Group’s members. Toward the end of the meeting, the two sides agreed to enhance the close cooperation to exchange and update information, as well as to suggest practical cooperative activities in order to support the economic growth and the sustainable development in Vietnam, and to enhance the role of the SEAVG in the future.
Le Hang