Gov’t to use four instruments for public debt management

The Law on Public Debt Management is ratified by Việt Nam’s 12th National Assembly at its 5th session on June 17, 2009 - Illustration photo

First, the long-term strategy of public debts will evaluate the situations of public debts and public debt management during the implementation of the strategy which is design on the basis of 5 or 10-year socio-economic development plans. It also defines directions for mobilizing and controlling public debts.

Second, the medium-term program on debt management will comprise goals, tasks and measures on mobilizing, using, and paying public debts in a three-year period for the purpose of safety.

Third, the Government’s annual plans on loans and debt payment will be those on domestic loans, foreign loans and debt payment.

Forth, criteria for safety and supervision of public debts will center on the proportions of public debts in comparison with GDP as well as foreign debts and GDP.

Towards transparency in public debts

The decree stipulates that the Ministry of Finance (MoF) will be responsible for providing information of Governmental public debts and debt payment, the Government’s guaranteed loans, local loans and debt payment.

The information will be made public every six months via news-bulletins on public debts in Vietnamese and English on the website of the MoF.