Governor of Vietnam Central Bank Meets U.S. Ambassador, IMF Official

Governor of the State Bank of Viet Nam, Nguyen Van Giau on May 14 had meetings with Benedict Binghamd, Resident Representative of IMF and the U.S. Ambassador Micheal Michalack to discuss measures to stabilize Viet Nam’s macroeconomy.

Giau noted that the government of Viet Nam’s top task is to curb inflation and to stabilize macroeconomy in the complicated world and regional situation.

Ambassador Micheal Michalak expressed his belief that the government will solve soaring inflation and confirmed that the U.S. will continue provide detailed supports for Viet Nam in the coming time.

Benedict Bingham and Micheal Michalak did not disclose further.

Due to economic difficulties, the government of Viet Nam proposed cutting the set GDP growth rate to 7 per cent from 8.5% - 9% to the National Assembly’s ongoing working session.

The government think tank, the Central Institute for Economic Management (CIEM) put three economic scenarios for Vietnam, highlighting the worst: Vietnam’s economy will grow 6.6% - 6.7% with inflation to soar 22.3% this year.

Viet Nam’s inflation soared 21.3% in April this year from a year earlier. (SBV)