Vietnam: Staff Report for the 2012 Article IV Consultation
IMF Staff Country Reports, July 6, 2012
Source details
- Canonical URL
- Vietnam: Staff Report for the 2012 Article IV Consultation
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Bibliographic details
- Published: July 6, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475506051.002
Executive summary and context
- Focus: the financial sector and macroeconomic situation in Vietnam.
- Timing and policy action:
- Authorities adopted a stabilization package in February 2011 in response to increasing pressures on prices and the exchange rate in late 2010.
- Executive Directors commended the tightening of macroeconomic policies in 2011.
- Observed outcomes cited by Directors:
- Declining inflation.
- Stabilizing the exchange rate.
- A rebuilding of international reserves.
- Directors' policy advice:
- Monetary policy should give priority to reducing inflation and rebuilding reserves further.
Key findings and assessments
- Financial sector and macroeconomic focus: the report evaluates vulnerabilities and policies in Vietnam’s financial sector and broader macroeconomic environment as of the 2012 Article IV Consultation.
- Policy evaluation:
- The stabilization package of February 2011 is identified as a central response to exchange rate and price pressures originating in late 2010.
- Tightening of macroeconomic policies in 2011 is credited with measurable improvements in inflation, exchange rate stability, and reserve accumulation.
Policy recommendations (as recorded)
- Prioritize monetary policy actions to:
- Reduce inflation.
- Rebuild international reserves further.
Subjects and keywords (as listed)
- Subject: Exchange rates, External debt, Foreign exchange, Inflation, Prices, Public and publicly-guaranteed external debt, Public debt
- Keywords: Asia and Pacific, balance, CR, debt, estimate of the current account, Europe, Exchange rates, GDP, Global, IBRD operation, Inflation, ISCR, Mekong, Public and publicly-guaranteed external debt, staff appraisal, summary balance of payments, U.S. dollar
International Monetary Fund. "Vietnam: Staff Report for the 2012 Article IV Consultation", IMF Staff Country Reports 2012, 165 (2012).