PM hails IMF’s support for VN’s socio-economic development

PM Nguyen Xuan Phuc meets Managing Director of the IMF Christine Lagarde in Bali, Indonesia, on October 12, 2018 - Photo: VGP/Quang Hieu

The PM made that statement during his meeting with Managing Director of the IMF Christine Lagarde in Bali, Indonesia, on October 12 on the sidelines of the annual meetings of the IMF-World Bank Group.

During the meeting, the Vietnamese leader highlighted Viet Nam’s socio-economic achievements in 2018, especially maintain sustainable macro-economy, closely controlling inflation, promoting the economic growth rate to 7%, and high trade surplus over the recent nine months of 2018.

The Vietnamese Government is enhancing economic restructuring, growth model reform, fiscal consolidation, public debt control, prudent and flexible financial – monetary policies, business climate improvement, development of the private economic sector, innovation encouragement, and improvement of the capacity of joining in the Fourth Industrial Revolution, he affirmed.

Mr. Phuc welcomed IMF’s positive evaluation of the country’s economic situation and prospect, proposing the IMF continue providing Viet Nam with policy advice about economic restructuring, growth model reform, perfection of financial-banking systems, and utilization of the Fourth Industrial Revolution in the financial sector.

For her part, Ms. Christine Lagarde suggested Viet Nam continue boosting  restructuring, increasing investment in education and health care, controlling public debt, accelerating fiscal consolidation, controlling exchange rates flexibly, and actively integrating into the world.

The IMF will continue assisting Viet Nam to keep macro-economic stability and bolster its economic growth to achieve sustainable and inclusive development goals, she confirmed.

She highly appreciated and expressed thanks to the country’s contributions to the IMF’s Catastrophe Containment and Relief Trust.

PM Nguyen Xuan Phuc attends the opening ceremony of the annual meetings of the International Monetary Fund (IMF)-World Bank (WB) Group, Bali, Indonesia, October 12, 2018 - Photo: VGP/Quang Hieu

Earlier on the same day, PM Nguyen Xuan Phuc joined leaders of other ASEAN countries at the opening ceremony of the annual meetings of the International Monetary Fund (IMF)-World Bank (WB) Group.

With the theme “Harnessing disruption to shape inclusive economies of the future”, the annual meetings are scheduled to discuss many emerging issues in the global economy, such as the impact of trade wars on international and regional economic growth prospects; financial and monetary policy coordination; as well as the impact of the Fourth Industrial Revolution on economic growth, financial stability, employment, and social equality and progress.

The event attracted the participation of finance ministers and central bank governors of 189 member countries of IMF and WB, leaders of international organizations, representatives of many enterprises and social organizations, and researchers from around the world.

By Thuy Dung