Vietnam
IMF paper highlights weak monetary transmission mechanism in Vietnam
Vietnam has suffered from higher inflation than other Asian economies over the past five years – despite comparable growth rates
Vietnam bad bank to stimulate growth in NPL-ridden banking sector
Vietnam central bank aims to put banking sector on a stable footing to support growth, by taking non-performing loans into state-run 'bad bank'
Vietnam slashes rates in bid to kick-start economy
Central bank cites stable macro environment as it cuts policy rates by 100bp in an attempt to stimulate productive activity
State Bank of Vietnam needs a single mandate not independence
Lessons from South Korea, Japan and the US indicate a single mandate would benefit the State Bank of Vietnam more than an IMF call for legal independence.
State Bank of Vietnam forms payments advice board
New board will advise central bank governor on payments issues; will conduct research and make proposals for ways to improve Vietnamese systems among other duties
State Bank of Vietnam announces counterfeit note findings
Fewer fake polymer notes were found in the country in the first half of 2012; good news for the currency after scandal involving Securency
Vietnam unveils leadership board for new FSAP
State Bank of Vietnam reveals people selected to lead the country’s first Financial Sector Assessment Programme; in-depth analysis will be used by the IMF in surveillance work
Acting head of forecast department chosen in Vietnam
Nguyen Do Quoc Tho appointed as acting general director of the Monetary Statistics and Forecast Department at the State Bank of Vietnam; department last month published positive growth figures
Vietnam central bank statistics show positive outlook
Statistics published by the State Bank of Vietnam highlight steady economic recovery; nevertheless, central bank says “strong efforts” necessary to hit annual growth targets
New deputy governor for State Bank of Vietnam
Vietnamese prime minister appoints Dao Minh Tu; joins five other deputy governors at the central bank
Vietnam and San Francisco Fed reflect on banking seminar
State Bank of Vietnam deputy governor meets with delegation from Federal Reserve Bank of San Francisco; group discusses recent seminar on monitoring and managing banks in Vietnam
Vietnam receives first tranche of loan from Asian Development Bank
Asian Development Bank to plough $730 million into updating Vietnam's electricity supply system; first tranche of $121 million released
Former deputy chairman to stand trial over Securency scandal
Central London court commits Bill Lowther to stand trial; hearing scheduled for early December
Former Vietnamese governor suspended over corruption scandal
After reports implicate Le Duc Thuy, a former governor of the State Bank, the country’s prime minister forces him out of public service
ADB discusses stability, inflation and the dollar at AGM
Annual general meeting of the Asian Development Bank touches on core issues for the region; stability, inflation and reforming the international monetary system
Hanoi to ban trade of gold bars
State Bank of Vietnam says government will issue ruling barring the trade of gold bars; move will follow 2008 ban on gold imports
Vietnam proposes lifting gold ban to stem inflation
State Bank of Vietnam head of foreign exchange Nguyen Quang Huy says restrictions on gold imports may be lifted if domestic prices are unsustainable; move could help contain inflation
Vietnam continues dong devaluation
State Bank of Vietnam devalues the dong for the third time in the past 12 months
Greek debt crisis sparks widening of almost all global CDS spreads
Cost of protecting against a Greek default up 190% in three months to mid-June as CDS spreads widened for 93% of sovereign debt on back of sovereign debt crisis in Europe
Vietnam lifts loan rate caps to dampen inflation
Vietnamese central bank frees commercial loan rates from base rate to stymie credit growth, new law which would give it more independence under discussion
Chiang Mai currency swap deal comes to life
Regional $120 billion currency swap arrangement between ASEAN members and east Asian powerhouses comes into force
ASEAN agree on Chiang Mai
The 13 countries participating in the Chiang Mai Initiative to create bilateral currency swaps have reached an agreement on the main components of the scheme.
Asia sets up $120bn FX fund to stave off attacks
Asian finance ministers on Sunday pledged $120 billion to counter the risk of a currency collapse in the region.
Vietnam slashes to meet growth target
The State Bank of Vietnam cut its base interest rate by 150 basis points to 7% on Friday, taking borrowing costs to half of the level they were last summer.