January 11, 2012
Vietnam will adjust policy interest rates to “more suitable” levels after the first quarter and weaken the dong as much as 3 percent this year, central bank Governor Nguyen Van Binh said. “We believe that 2012 will be a hard year, a challenging year for Vietnam’s economy,” Binh said at a conference in Hanoi [...]
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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 [...]
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November 23, 2011
Credit grew only 8.61 percent in the first 10 months Vietnam’s central bank expects bank loans to increase 15 percent this year, lower than the original target. State bank of Vietnam Governor Nguyen Van Binh said the growth will be kept at 17 percent or below next year. The monetary authority will focus on providing loans [...]
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September 9, 2011
The central bank has capped credit growth at 20 percent this year The National Financial Supervisory Committee says Vietnam’s credit growth target should be revised down to 15 percent to ensure loans do not expand too fast in the next few months, putting economic stability at risk. The central bank has capped credit growth at 20 [...]
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August 5, 2011
Investors at the Hanoi Stock Exchange. Vietnam’s stock market is in crisis and investor confidence remains low, experts say. Following complaints that tightened credit has indiscriminately hurt the real estate sector, calls are being made for a policy stimulus for the stock market. State Securities Commission Vice Chairwoman Vu Thi Kim Lien said the stock [...]
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July 4, 2011
There’s not much in the way of good news on the economic front. Clothes on sale at a ÂÂÂshop in Hanoi last week. Vietnam is fighting to beat back raging inflation. Despite repeated revisions of growth and inflation targets, the former downwards and the latter upwards, they are not likely to be met, experts [...]
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June 26, 2011
Vendors sit behind their baskets of fruit in downtown Hanoi. Vietnam’s inflation rate, already one of the world’s highest, rose again in June to almost 21 percent, according to official estimates released Friday. The consumer price index is expected to rise 20.82 percent this month compared with June last year, the General Statistics Office said. [...]
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May 28, 2011
The State Bank of Vietnam is trying to keep credit growth at below 20 percent this year. Vietnam’s central bank does not have any plan to cap lending rates as it is not a feasible move, Governor Nguyen Van Giau told the press on Thursday. “There have been suggestions but there are no policies yet,” [...]
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April 22, 2011
Vietnam Prosperity Bank, 15 percent owned by Oversea-Chinese Banking Corp , expects its gross profit to jump 57 percent to VND1.04 trillion (US$50 million) this year. The Hanoi-based bank, also known as VPBank, has cut its pretax profit target from an initial plan of VND1.35 trillion due to the government’s tightening of macro policies [...]
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March 30, 2011
Motorcyclists ride by a newly developped residential quarter in Hanoi Vietnam’s growth slowed in the first quarter after the central bank raised key interest rates to among the highest levels in Southeast Asia to tame inflation. Â Gross domestic product climbed 5.43 percent in the three months through March from a year earlier, according to [...]
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