Trang Chủ
Under the Chiang Mai Initiative’s Multilateralisation (CMIM), of which Vietnam is an active member; all the member countries have the right to access this fund when they need urgent assistance for their balance of payment difficulties and foreign exchange liquidity in the short term in order to stabilize the macro-economy and money market.
Since the beginning of 2012, Vietnam’s macro-economy has seen a number of positive developments. Inflation of the first eight months was contained at the rate of 2.86% and the annual rate is expected to be 6% . The current account has obtained a surplus of over USD 6 billion.; the overall balance of payment has achieved a surplus of over USD 8 billion.; international reserves has doubled in comparison with that of the beginning of the year; the foreign exchange market and exchange rate have remained stable; export has risen by about 20% while trade deficit has been kept at around 1% of the total export value; and the quarterly GDP growth rate has been increasing progressively, and the annual GDP growth rate is projected to be around 5.5%.
The restructuring of the whole economy in general and the banking sector in particular has gained initial positive achievements. The above-mentioned achievements and the macro-economic policy direction of the Government have been highly appreciated by the international market and community.
Given the current positive condition of macro-economy, balance of payment, international reserves and market confidence, the Vietnamese Government affirms that it doesn’t need to borrow loans from the International Monetary Fund (IMF) as well as the ASEAN+3 to resolve the domestic economic problems. The Vietnamese Government will continue to maintain the close relationship under the cooperative framework with the IMF and ASEAN+3, including periodical macro-economic surveillance.
