Jan 23 (Reuters) - The State Bank of Vietnam, the country's central bank, said on Friday it will cut its benchmark base rate to 7 percent from 8.5 percent with effect from Feb. 1.
Following are some recent comments about the economy by Vietnamese policymakers.
NGUYEN VAN GIAU, STATE BANK GOVERNOR, Jan 23, in an interview with the online newspaper VnEconomy (vneconomy.vn):
'I do not believe the current regulation to use ceiling and floor interest rates around the base rate is always suitable. When it is necessary to change we will look into it.'
VO HONG PHUC, MINISTER OF PLANNING AND INVESTMENT, Jan 23, speech on Vietnam economic outlook in 2009:
'There is reason to believe in the possibility of an early recovery of Vietnam's economy by the end of 2009. However, this also depends on the health of global economy, especially in the United States, Japan and the European Union.'
NONG DUC MANH, COMMUNIST PARTY GENERAL SECRETARY, Jan 5, opening speech of a Central Committee meeting:
'It is time for us to conduct deeper research to find answers for issues such as the relationship between the pace of growth and the quality of growth, between speedy expansion and sustainable growth, between economic growth and social welfare and equality, between economic reform and the renewal of the political system.'
NGUYEN VAN GIAU, CENTRAL BANK GOVERNOR, Jan 2, lending directive:
'Lending should be expanded with interest rates suitable to the difficult conditions in which companies operate... In 2009, our economy will still be able to grow but will face difficulties because of the negative impact of the global financial crisis and economic recession.'
NGUYEN TAN DUNG, PRIME MINISTER, Dec 30, speech at the 2009 banking conference organised by the central bank:
'The management of interest rates and exchange rates should be flexible and effective, contributing to the overall stability of the macro economy and ensuring liquidity in the banking system as well as meeting demand for funds from the economy. It is very important to solve the issue of interest rates at this moment.'
(Compiled by Nguyen Nhat Lam; Editing by John Ruwitch) Keywords: VIETNAM FACTBOX/COMMENTS (nhatlam.nguyen@thomsonreuters.com; +844 3825 9623; Reuters Messaging: nhatlam.nguyen.reuters.com@thomsonreuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Following are some recent comments about the economy by Vietnamese policymakers.
NGUYEN VAN GIAU, STATE BANK GOVERNOR, Jan 23, in an interview with the online newspaper VnEconomy (vneconomy.vn):
'I do not believe the current regulation to use ceiling and floor interest rates around the base rate is always suitable. When it is necessary to change we will look into it.'
VO HONG PHUC, MINISTER OF PLANNING AND INVESTMENT, Jan 23, speech on Vietnam economic outlook in 2009:
'There is reason to believe in the possibility of an early recovery of Vietnam's economy by the end of 2009. However, this also depends on the health of global economy, especially in the United States, Japan and the European Union.'
NONG DUC MANH, COMMUNIST PARTY GENERAL SECRETARY, Jan 5, opening speech of a Central Committee meeting:
'It is time for us to conduct deeper research to find answers for issues such as the relationship between the pace of growth and the quality of growth, between speedy expansion and sustainable growth, between economic growth and social welfare and equality, between economic reform and the renewal of the political system.'
NGUYEN VAN GIAU, CENTRAL BANK GOVERNOR, Jan 2, lending directive:
'Lending should be expanded with interest rates suitable to the difficult conditions in which companies operate... In 2009, our economy will still be able to grow but will face difficulties because of the negative impact of the global financial crisis and economic recession.'
NGUYEN TAN DUNG, PRIME MINISTER, Dec 30, speech at the 2009 banking conference organised by the central bank:
'The management of interest rates and exchange rates should be flexible and effective, contributing to the overall stability of the macro economy and ensuring liquidity in the banking system as well as meeting demand for funds from the economy. It is very important to solve the issue of interest rates at this moment.'
(Compiled by Nguyen Nhat Lam; Editing by John Ruwitch) Keywords: VIETNAM FACTBOX/COMMENTS (nhatlam.nguyen@thomsonreuters.com; +844 3825 9623; Reuters Messaging: nhatlam.nguyen.reuters.com@thomsonreuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
