Vietnam: 2005 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Vietnam

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 022

Publication date: January 2006

ISBN: 9781451840322

$20.00

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Topics covered in this book

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Banks and Banking , Exports and Imports , Labor , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , ISCR , CR , government , authority , minimum wage , state equity ratio , budget , Vietnamese authorities , authorities' plan , civil service wage structure , government interference , Commercial banks , Exports , Global , Asia and Pacific

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Summary

This 2005 Article IV Consultation for Vietnam reports that high credit growth in the context of weak bank balance sheets remains a cause for concern. The overall fiscal deficit narrowed from 7.2 percent of GDP in 2003 to 4½ percent of GDP in 2004, but a growing program of off-budget operations has weakened fiscal transparency and heightened concerns about medium-term debt sustainability. Improvements in the reliability, timeliness, and dissemination of key data are urgently needed to enhance the quality of policy analysis and surveillance.