December 14, 2011
Vietnam's inflation is expected to slow to about 9 percent in 2012 and is under control, Prime Minister Nguyen Tan Dung told the Consultative Group. Vietnam may undermine progress toward economic stability if it loosens monetary policy now, the International Monetary Fund and World Bank said as the nation struggles with the fastest inflation in [...]
Tags: 14 Percent, 15 Percent, And World Bank, banking, Banking Sector, Bloomberg, Central bank, Commercial, Commercial joint, Commercial joint stock, Commercial joint stock bank, Consultative, Consultative Group, Control Prime, Control Prime Minister, Control Prime Minister Nguyen, Dong Depreciation, Dung Told The, Dung Told The Consultative, economic, Economic Stability, economy, exchange, financial, Financial Sector, Foreign, Foreign Exchange, Government, group, growth, In 2012 And, inflation, Inflation rate, interest, Interest rates, Is Under Control, Is Under Control Prime, joint, Joint stock, Joint stock bank, Kalra, Ldquo, lower, Minister nguyen, Minister Nguyen Tan, Minister Nguyen Tan Dung, monetary, nation, Nguyen Tan, Nguyen Tan Dung, Nguyen Tan Dung Told, percent, Percent This Year, policies, policy, Prime minister, Prime Minister Nguyen, Prime Minister Nguyen Tan, rates, Rdquo, Resolution 11, Said Vietnam, sector, stability, state, State bank, stock, Stock bank, Tan Dung, Tan Dung Told, Tan Dung Told The, The Banking, The Banking Sector, The central, The central bank, The Consultative, The Consultative Group, The Fastest, The government, The Government Said, The Imf, The Nation, The state, The state bank, The world, The World Bank, The World Bank Said, This year, Told The Consultative, Told The Consultative Group, trade, Trade deficit, Tuesday, Under Control, Under Control Prime, Under Control Prime Minister, Vietnam, world, World Bank, World Bank Said
Posted in Politics | Comments Off
November 5, 2011
Vietnam’s public debt will probably be higher than estimated, as the Ministry of Finance has missed including in its calculations several kinds of debt related to the government, lawmakers said at the National Assembly’s meeting on Friday. According to the National Assembly’s Finance and Budget Committee, their review showed that the country’s public debt will [...]
Tags: 63 Provinces, 63 Provinces And, 63 Provinces And Cities, And Budget Committee, assembly, billion, Budget, Budget Committee, cities, committee, Concerns, Debt Vietnam, Deputy Prime, Deputy Prime Minister, Develop Rdquo, estimated, Every year, exchange, Exchange Reserves, finance, Finance And Budget, Finance And Budget Committee, Foreign, Foreign Exchange, Foreign Exchange Reserves, Government, Growth rate, higher, Higher Than The, Including, investment, Lawmakers, Ldquo, loans, Meeting, Minister, ministry, National, National assembly, Of Public Debt, Overspending, Owned Companies, people, percent, Prime minister, projects, Provinces And Cities, public, Public Debt, Public Debt Vietnam, Public Debt Will, Public Investment, ratio, Rdquo, reserves, Safe Range, Said ldquo, Said Public, spending, State Owned Companies, State-owned, Thang, That This Year, The Committee, The Committee Said, The country, The government, The meeting, The Meeting That, The ministry, The national, The National Assembly, The Public, The Public Debt, This year, This Year Vietnam, Times Higher, Times Higher Than, trillion, Vietnam, While The Public, worth, Year Vietnam
Posted in Politics | Comments Off
October 8, 2011
Vietnam’s central bank increased its refinancing rate for the first time since May, as the nation tries to steady its currency and tame Asia’s fastest inflation. The State Bank of Vietnam raised the refinancing rate to 15 percent from 14 percent, effective Oct. 10, it said in a statement on its website Thursday. The [...]
Tags: 14 Percent, 14 Percent Effective, 14 Percent Effective Oct, 15 Percent, According, And Stabilize The, Asian, August, Backed, Backed Loans, banks, Bloomberg, Borrowing Costs, By Bloomberg The, Central, Central bank, Central Bank Should, change, Commercial, Commercial banks, currency, deficit, dollar, economy, Effective Oct, Emerging Markets, exchange, Exchange rate, first, First Change, Foreign Exchange, Friday, Gold Backed, Gold Backed Loans, Huge Effect, In September From, increase, inflation, interest, Interest rates, It Said The, Its Website, Ldquo, market, markets, monetary, Monetary Policy, Oct 10, On Its Website, Per Dollar, percent, Percent Effective, Percent Effective Oct, policy, raised, Rate For The, Rate Increase, rates, Rdquo, Reference Exchange, Reference Exchange Rate, Refinancing, Refinancing Rate, Repurchase, Repurchase rate, state, State bank, statement, The central, The central bank, The Central Bank Should, The Currency, The Currency Was, The Dong, The economy, The first, The First Change, The Monetary, The Rate, The Rate Increase, The Refinancing, The Refinancing Rate, The Repurchase, The Start, The state, The state bank, The Trade, Thursday, trade, Trade deficit, Trade Deficit And, Vietnam
Posted in Business | Comments Off
September 11, 2011
Foreign debt accounted for 42.2 percent of Vietnam’s GDP in 2010, up from 39 percent in 2009. Vietnam should focus on decreasing the current account deficit and approaching foreign exchange rate fluctuation with caution, economist Tran Du Lich told Thanh Nien Weekly in an interview. Thanh Nien Weekly: Foreign debt accounted for 42.2 percent of [...]
Tags: 39 Percent, account, Account Deficit, Account Deficit And, balance, Big Problem, billion, capital, criteria, current, Current Account, Current Account Deficit, Current Account Deficit And, Debt Accounted, Debt Accounted For, Debt Payment, debts, deficit, Devaluation, dollar, domestic, Dong Devaluation, Du Lich, Effectiveness, Exchange rate, Exchange Rate Fluctuation, Foreign, Foreign Currencies, Foreign Debt, Foreign Debt Accounted, Foreign Debt Accounted For, Foreign Exchange, Foreign Exchange Rate, Foreign Exchange Rate Fluctuation, Government, Government Cannot, Have Just Mentioned, Have Not Yet, In Japanese Yen, In the next, increase, interest, Interest rates, investment, issue, Japanese, Japanese Yen, Just Mentioned, loans, long-term, Nien Weekly, Oda Loans, payment, payments, Per Dollar, percent, Rate Fluctuation, rates, ratio, Review The Effectiveness, safety, Thanh, Thanh nien, Thanh Nien Weekly, The Balance, The current, The Current Account, The Current Account Deficit, The Debt, The domestic, The Dong, The Dong Devaluation, The Effectiveness, The Figure, The government, The Government Cannot, The Issue, The Level, The Ratio, This Issue, To Consider The, trade, Trade deficit, Tran Du, Vietnam, We Could Not, We Have Not, We Have Not Yet, We Need, We Should Have, weekly, years, Yen Per, Yen Per Dollar
Posted in Reports | Comments Off
September 9, 2011
The dong’s chronic weakness has repelled foreign investors and hampered attempts by Vietnam’s policymakers to reverse the faltering fortunes of an economy that only five years ago was one of Asia’s most promising. Until Vietnam rebuilds trust by decisively taming the region’s worst inflation and narrowing sizable trade and budget deficits, the risks of [...]
Tags: And Interest Rates, August, billion, Central, Central bank, Central Bank Does, currency, current, Devaluation, dollar, Economic Environment, exchange, Exchange rate, February, Foreign, Foreign Exchange, Foreign investors, Foreign Investors And, Foreign Reserves, Government, inflation, interest, Interest rates, investors, Last week, Mid August, Not Fixing, Per Dollar, percent, rates, reserves, Since Mid, stabilizing, Stabilizing Not Fixing, state, State bank, State-owned, The central, The central bank, The Central Bank Does, The Currency, The current, The Dong, The exchange, The Exchange Rate, The government, The problem, The Sbv, The state, The state bank, The value, The Vnd, This year, Three Times, trading, value, Vietnam
Posted in Business | Comments Off
July 30, 2011
Banks in VIetnam have stepped up sales of the dollar as they anticipate a move to reduce their dollar holdings, even as they compete to mobilize more of the greenback to meet increasing demand for dollar loans. “Buying foreign currencies now is easier than ever,” said Dao Duy Kha, deputy general director of Vietnam [...]
Tags: banks, Central, Central bank, Commercial, Commercial banks, Commercial Banks Are, credit, currency, current, demand, Demand For Dollar, Demand For Dollar Loans, deposits, director, dollar, Dollar Credit, Dollar Deposits, Dollar Holdings, Dollar Loans, dollars, Dong Deposits, exchange, Exchange rates, firms, For Dollar Loans, Foreign, Foreign Currencies, Foreign Currency, Foreign Exchange, Foreign Exchange Rates, General, General director, Huong, interest, Interest rates, Ldquo, Ldquo Banks, loans, Low Interest, Low Interest Rates, Mobilize, Of The Dollar, Of The Foreign, Of The Foreign Currency, On Dollar Deposits, On Dollar Loans, Per Dollar, percent, rates, Rdquo, reduce, Reduce Their Dollar, Said ldquo, sales, supply, Thanh nien, The central, The central bank, The current, The Dollar, The foreign, The Foreign Currency, Their Dollar, To Reduce Their, To Reduce Their Dollar, Vietnam
Posted in Business | Comments Off
July 23, 2011
Men work at a Piaggio scooter and motorcycle factory in Vietnam's northern Vinh Phuc province, outside Hanoi in 2010. Vietnam is aiming for annual gross domestic product growth of 6.5 percent after 2012, Deputy Prime Minister Nguyen Sinh Hung said in a document released at the National Assembly in Hanoi Thursday. Vietnam aims to slow [...]
Tags: After 2012, document, Foreign Exchange, growth, In The Document, In The Document The, Ldquo, percent, Rdquo, The Document, The Document The, Vietnam, Vietnam Aims
Posted in Business | Comments Off
July 22, 2011
Vietnam recorded a trade deficit of $200 million or less for the second straight month, after the government devalued the nation’s currency in February by the most since at least 1993 to help reduce the gap. The trade deficit was $200 million in July, up from a revised shortfall of $160 million in June, [...]
Tags: 200 Million, 46 Billion, According, Added, billion, Billion Vietnam, deficit, For The Seven, For The Seven Months, Foreign, Foreign Exchange, Foreign Reserves, Goldman sachs, Hanoi, Has Added, imports, In July From, Its Foreign, Its Foreign Reserves, Ldquo, Low Rdquo, million, months, Months Through July, Months Through July They, Of Vietnam Has, Of Vietnam Has Added, percent, Rdquo, reserves, revised, Seven, Seven Months, Seven Months Through, Seven Months Through July, State bank, The Deficit, The Dong, The government, The Seven, The Seven Months, The Seven Months Through, The state, The state bank, The Trade, The Trade Deficit, Through July, Through July They, To Its Foreign, To Its Foreign Reserves, trade, Trade deficit, Vietnam, Vietnam Has Added, VN-Index
Posted in Business | Comments Off
July 21, 2011
Vietnam, which is battling high inflation and other economic problems, has added nearly $4 billion this year to its foreign reserves, a government report on Thursday said. The State Bank of Vietnam will further increase reserves by the end of 2011, the report to the National Assembly by Deputy Prime Minister Nguyen Sinh Hung [...]
Tags: At The End, billion, Cut The Trade, Cut The Trade Deficit, deficit, Deputy Prime, Deputy Prime Minister, Foreign, Foreign Exchange, Foreign Reserves, goods, Government, Government Has Said, imports, Limit The Imports, percent, Prime minister, reserves, state, Stricter Measures, The government, The Government Has, The Government Has Said, The Imports, The Trade, The Trade Deficit, The Trade Deficit The, This year, trade, Trade deficit, Trade Deficit The, Vietnam
Posted in Business | Comments Off
June 28, 2011
Many banks with suplus cash are pouring money into the bond market. Low interest rates on dollar loans are attracting businesses. More than ever before, firms are opting for the foreign currency in a bid to escape escalating dong rates. But economists warn that exchange rates will jump in the coming months, when the central [...]
Tags: banks, Borrowing Dollars, Central, Central bank, Commercial, Commercial banks, currency, Currency Loans, Currency Reserves, director, dollar, Dollar Deposits, Dollar Loans, dollars, Dong Loans, exchange, Exchange rate, firms, Foreign, Foreign Currency, Foreign Currency Loans, Foreign Currency Reserves, Foreign Exchange, Foreign Exchange Rate, From Commercial Banks, From The State, From The State Bank, General, General director, interest, Interest rates, Its Foreign, Its Foreign Currency, Its Foreign Currency Reserves, Its Rate, Its Rate Cap, Kien Long Bank, Last month, Ldquo, loans, Long Bank, Lowered Its Rate, Lowered Its Rate Cap, month, Nguyen, Of Kien Long, Of Kien Long Bank, On Dollar Loans, On Dong Loans, percent, Rate Cap, rates, Rdquo, reserves, Said The Dollar, state, State bank, The bank, The central, The central bank, The Dollar, The foreign, The Foreign Currency, The state, The state bank, Vietnam
Posted in Business | Comments Off
