November 13, 2011
Wiping out small banks should not be the goal of banking reform A customer exits a branch of Joint-Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank, in Hanoi. Bad debts at local banks are rising, raising concerns about the safety of the whole banking system. With bad debt exposure rising among local [...]
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January 28, 2010
The International Monetary Fund (IMF) said Tuesday the global economy is recovering faster than previously anticipated and will grow 3.9 percent this year and 4.3 percent in 2011. The IMF said it had revised upwards its earlier forecast for global growth by 0.75 percentage point from the October 2009 forecast.RECOVERY SLUGGISH IN ADVANCED ECONOMIESBut the [...]
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December 17, 2009
Asia should keep interest rates low even as China, South Korea and other emerging economies in the region may grow at the fastest pace in three years in 2010, the Asian Development Bank said. âInflation is still low,â Jong-Wha Lee, the Asian Development Bankâs chief economist, told reporters in Manila Tuesday. âWe havenât seen a [...]
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December 9, 2009
The U.S. economy is likely to expand moderately, Federal Reserve Chairman Ben Bernanke said on Monday. U.S. Federal Reserve Chairman Ben Bernanke delivers remarks during the December Luncheon meeting of the Economic Club of Washington, at the Capital Hilton in Washington on Dec. 7, 2009. (Xinhua/Zhang Yan)The recovery “will continue at least into next year,” [...]
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December 3, 2009
The United Nations predicted on Wednesday that the world economy would bounce back next year with a global growth rate of 2.4 percent. “We’re not out of the woods yet,” said Rob Vos, Director of Development Policy and Analysis from the Department of Economic and Social Affairs (DESA), ahead of the launch next month of [...]
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November 18, 2009
Federal Reserve Chairman Ben Bernanke said on Monday that the U.S. central bank will pay attention on the depreciation of the U.S. dollar and help ensure the dollar is strong. Chairman of the Federal Reserve Ben Bernanke speaks during The Economic Club of New York luncheon in New York, November 16, 2009. (Xinhua/Reuters Photo)“We are [...]
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November 13, 2009
The governmentâs stimulus package has come with a cost as inflation has recently been on the rise again. While it has staved off the worst impacts of the global crisis, Vietnam needs to phase out government stimulus, says IMF Senior Resident Representative Benedict Bingham. Thanh Nien: How has the stimulus package contributed to Vietnamâs economic [...]
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November 10, 2009
G20 policymakers agreed to maintain support for the recovery until it is assured in order to restore the global economy and financial system to health. Though a series of positive signs have shown that global economy is in the recovery process, the G20 policymakers said “while we will continue to provide support for the economy [...]
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November 10, 2009
Wall Street surged on Monday as the Group of 20 (G20) nations agreed to maintain measures to boost economic growth. All the major indexes set new highs of 2009 at the closing. Traders work on the floor of the New York Stock Exchange November 9, 2009. (Xinhua/Reuters Photo)The rally followed the lead of overseas markets, [...]
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October 2, 2009
European Union (EU) finance ministers on Thursday agreed on some principles of an exit strategy to phase out their economic stimulus, but left a question mark on when to put it into practice. Sweden’s Finance Minister Anders Borg arrives for the dinner of the G20 Finance Ministers’ meeting at the Guildhall in the City of [...]
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