IMF Staff Country Reports

Vietnam: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vietnam

September 27, 2023

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International Monetary Fund. Asia and Pacific Dept "Vietnam: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vietnam", IMF Staff Country Reports 2023, 338 (2023), accessed December 21, 2024, https://doi.org/10.5089/9798400256899.002

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Summary

The 2023 Article IV Consultation discusses that Vietnam experienced a robust post-pandemic economic recovery in 2022 thanks to strong economic fundamentals and prudent public health management during the pandemic. In addition, amidst high private debt and rising global interest rates, a liquidity crunch distressed highly leveraged sectors (in particular, real estate), the corporate bond came to a halt, and nonperforming loans rose. As a result, economic activity decelerated sharply in the first half of 2023. While the government managed to stabilize the markets, risks remain elevated. The report recommends addressing the multiple headwinds affecting the economy calls for a comprehensive, multi-pronged response by the government. In addition, Vietnam should implement far-reaching reforms to meet its ambitious medium- and long-term objectives of sustained high and green economic growth. In addition, achieving the ambitious medium-term growth and climate goals will require accelerating reforms to improve the business environment, critical infrastructure, and human capital.

Subject: Corporate bonds, Financial crises, Financial institutions, Financial markets, Fiscal policy, International organization, Monetary policy, Revenue administration, Securities markets

Keywords: Corporate bonds, Global, Monetary policy decision-making process, Policy buffer, Securities markets, State budget, U.S. dollar, USD trading band

Publication Details

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