Member of Political Bureau of the Communist Party of Vietnam (CPV), Governor Nguyen Van Binh of the State Bank of Vietnam had a meeting with IMF Managing Director Christine Lagarde in Hanoi on March 16.
At the meeting, SBV Governor Nguyen Van Binh congratulated Mrs. Christine Lagarde being selected to serve as IMF Managing Director for a second five-year term starting on July 5, 2016. Concurrently, the Governor expressed his great pleasure at cooperative and effective relation between the SBV and the IMF and highly appreciated of the IMF’s policy consultancy and support to the orientation and policies of Vietnam Government. He specially spoke highly the IMF Article IV Consultation assessment and recommendations with Vietnam that have contributed greatly in the cause of monetary policy regulation, restructuring the system of credit institutions to support to macroeconomic stability and social protection of Vietnam.
The Governor exchanged with Mrs. Lagarde several main contents of the Resolution of 12th National Party Congress and the achievements of monetary policy management, banking reform and NPL resolution over the past time. The Governor asserted an important massage of the Communist Party and the Government of Vietnam that Vietnam will continue to make a decisive shift to a market economy and take this principle to manage the economy with a focus in macroeconomic stability. Governor Nguyen Van Binh said that the next period of 2016 – 2020 could be especially important for Vietnam to set up a solid background for sustainable development and growth for the coming time, therefore, the Governor expressed his hope that Vietnam will continue to obtain more valuable supports from the IMF as well as the experience exchanging from other countries in the region.
On this occasion, IMF Managing Director Christine Lagarde congratulated Governor Nguyen Van Binh on being elected the Member of CPV Politburo. Mrs. Christine Lagardge highly appreciated the achievements of macroeconomic stability and economic development of Vietnam, especially the encouraging results of the SBV’s monetary policy regulation and banking reform over the past time. Mrs. Lagarde also acknowledged the decisive actions of the SBV in money market and foreign exchange management, including the application of daily reference exchange rate mechanism.
The IMF Managing Director strongly encouraged the determination and orientation of Vietnam Government and the SBV in stabilizing macro economy and money market to create favorable environment for economic development. Mrs. Lagarde stated the IMF’s commitment to continue supporting to Vietnam with effective policy consultancy, training and technical assistance for Vietnam Government agencies and the SBV, to accelerate the exchange and bridge the IMF’s member countries having similar economic conditions with Vietnam in order to assist Vietnam realize the reform objectives and implement the initiatives and conclusions of 12th National Party Congress.
VMH