March 8, 2011
A branch of Vietnam International Bank Five partially-private lenders committed numerous violations in implementing the government’s interest rate subsidy plan during the economic downturn. State inspectors charged that Vietnam International Bank, Military Bank, Techcombank, Sacombank and Asia Commercial Bank caused a total loss of around VND160 billion to the state budget, VnExpress reported Sunday. Under the interest rate [...]
Tags: banks, Economic downturn, interest, Interest rate, Interest rate subsidy, Interest Rate Subsidy Plan, International Bank, Rate subsidy, Rate Subsidy Plan, subsidy, Subsidy Plan, The interest, The interest rate, The interest rate subsidy
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December 29, 2009
LookAtVietnam – Dr Tran Du Lich stressed that in 2010, a credit growth rate of 25 percent would be reasonable. Dr Tran Du LichDr Tran Du Lich is a Member of the National Advisory Council for Monetary Policies. Dau tu chung khoan: The Government has decided that the credit growth rate in 2010 would be curbed [...]
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December 28, 2009
LookAtVietnam – The Secretary General of the Vietnam Banking Association (VNBA) claims the liquidity difficulties are temporary. Secretary General Duong Thu Huong, in the interview given to Dau Tu Chung Khoan, stated that the demand for capital always increases in the fourth quarter, when businesses make payments as well as disbursement and clear stocks. Commercial [...]
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December 24, 2009
LookAtVietnam – Though the State Bank of Vietnam has applied stable interest and exchange rate policies in 2009, the market still see-sawed at times. Monetary policies stable For 2009, monetary policies became more stable than in 2008, when policies were adjusted regularly. In 2008, the basic interest rate was adjusted eight times, the compulsory reserve ratio [...]
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December 5, 2009
Vietnam will limit imports not essential to the economy and try to increase exports to quickly narrow the trade deficit, Prime Minister Nguyen Tan Dung said. The Ministry of Industry and Trade will work with other agencies to adopt measures including tariffs to curb the import of non-essential goods, as well as implement other initiatives [...]
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December 4, 2009
LookAtVietnam – Banks have said new customers will find it hard to obtain bank loans as they have difficulty mobilizing funds from the public despite higher interest rates. Nguyen Quoc Sy, deputy general director of Western Commercial Bank, said his bank had been unable to lure as much capital from the public as expected and [...]
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December 3, 2009
Vietnamâs government has told international organizations that it has shifted its economic focus toward stability, saying it will tighten its monetary policy and work to improve the balance of payments. Vietnam will âtransfer from a loose monetary policy to a cautious, flexible policy, to ensure a reasonable credit growth rate, thus supporting the targets of [...]
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December 3, 2009
LookAtVietnam – Vietnam’s Government said on Tuesday it would stop stimulus in the year-end, three months earlier than expected, citing rapid credit growth as a key reason. The Government keeps subsidizing loans extended to farmers and rural areas as well as medium- and long-term bank loans, but the level of subsidization will be reviewed.This is [...]
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November 14, 2009
LookAtVietnam – The second stimulus package, via a banking rate subsidy programme, could further exacerbate banks’ funding shortages. “With the first bank rate subsidy programme, the banking system has been facing a fund scarcity. Now the second is coming, it is hard to imagine how the system will cope,” said a Vietinbank official.The interbank market, [...]
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November 3, 2009
Minister of Planning and Investment Vo Hong Phuc The governmentâs tax reduction and interest rate subsidy stimulus packages have rewarded eligible firms despite slow implementation and complicated procedures, Vietnamâs planning and investment minister said. Speaking at an ongoing National Assembly session in Hanoi on Wednesday, Minister Vo Hong Phuc said the State Bank of Vietnam [...]
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Vietnam says to move away from loose monetary policy
Vietnamâs government has told international organizations that it has shifted its economic focus toward stability, saying it will tighten its monetary policy and work to improve the balance of payments. Vietnam will âtransfer from a loose monetary policy to a cautious, flexible policy, to ensure a reasonable credit growth rate, thus supporting the targets of [...]
Tags: An Interest Rate, An Interest Rate Subsidy, balance, By The Central, By The Central Bank, By The World, By The World Bank, Central bank, control, credit, Credit Growth, Domestic Product, economy, exchange, first, For Short Term, For Short Term Loans, Foreign, Foreign Exchange, Government, Gross Domestic, Gross Domestic Product, growth, High Inflation, highest, In Remarks Prepared, In Remarks Prepared For, inflation, interest, Interest rate, Interest rate subsidy, Interest Rate Subsidy Program, International, International Organizations, Last week, loans, Loose Monetary, Loose Monetary Policy, Macroeconomic, Macroeconomic Stability, Meeting, monetary, Monetary Policy, Next Year, November, Of High Inflation, percent, policy, program, Program For Short, Program For Short Term, Rate subsidy, Rate Subsidy Program, Rate Subsidy Program For, reduce, Remarks Prepared, Remarks Prepared For, Report Released, Report:, short, Short Term Loans, short-term, stability, subsidy, Subsidy program, Subsidy Program For, Subsidy Program For Short, Term Loans, The Balance, The central, The central bank, The Comments, The economy, The first, The government, The highest, The Highest Since, The Imf, The international, The meeting, The subsidy, The Subsidy Program, The world, The World Bank, This Week, Thursday, Vietnam, Vietnamese, world, World Bank
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