Vietnam lauds role of policy advice, international support, in recovery

Standing left to right – Mr. Dinesh Jebamani (Chief Manager Liability Product Management and New Age Media – Seylan Bank), Mr.Sudesh Peiris (Senior Manager – Digital Banking Channels – Seylan Bank), Ms. S.Senevirathne (Representative of the Revenue Department – Western Province), Mr. Tilan Wijeyesekera (Deputy General Manager – Retail Banking – Seylan Bank) and Mr. Malik Wickremanayaka (Deputy General Manager – Operations – Seylan Bank)

Hanoi, Mar 22, 2010 (LBO) – International support and policy advice on macro-economic management has helped Vietnam recover from a slowdown in 2009 and the country intended to use global links to cut poverty, officials said. Vietnam’s economy slumped in the fist part of 2009 but recovered later and the country was expected to record 6.0 percent of gross domestic growth in early 2010, State Bank of Vietnam (central bank) chief Nguyen Van Giau said.

“We have overcome this difficult period and with the support of the international community will go for sustainable growth,” Giau told a forum on post-crisis developing Asia in Hanoi organized with the International Monetary Fund.

“I believe for Vietnam and other countries it will not be possible without international support.

“We have received policy advice for macro-economic management policy to overcome the crisis.

Recovery

IMF has estimated the 2009 growth at about 5.25 percent of gross domestic product. The government has expanded spending and loosened monetary policy in 2009.

Giau said they were watching macro-economic stability and inflation has risen to 6.2 percent. The country in November had devalued its currency from about