Vietnam: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vietnam

Author: International Monetary Fund. Asia and Pacific Dept

Volume/Issue: Volume 2024 Issue 306

Publication date: September 2024

ISBN: 9798400290404

$20.00

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Topics covered in this book

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Finance , Inflation , Money and Monetary Policy , Public Finance , USD trading band , IMF-World Bank Financial Sector Assessment Program , authorities of Viet Nam , SBV management , IMF's Institute for Capacity Development , Anti-money laundering and combating the financing of terrorism (AML/CFT) , Credit , Inflation , Financial sector stability , Global

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Summary

Adverse external and domestic shocks led to a sharp slowdown in early 2023, but economic growth is gaining momentum thanks to a strong rebound in exports and expansionary fiscal and monetary policies. However, risks remain elevated, including because of a weak real estate sector and leveraged corporates. Headline inflation accelerated mostly owing to food prices. Despite a large current account surplus, the currency has been depreciating amidst record low domestic interest rates.