VN responds to US Department of Treasury’s Watch List

Headquarters of the State Bank of Viet Nam

The announcement was made after the US Treasury Department added Viet Nam as one of the nine countries in its latest watch list.

The State Bank of Viet Nam affirmed that it will continue monetary policies in favor of inflation control, macro-economic stabilization, and growth in an proper manner.

The exchange rate will be adjusted flexibly in line with domestic and global market situations as well as Viet Nam’s economic conditions, not for creating “unhealthy” advantages in international trade, the central bank said.

Earlier on May 29, the US Department of Treasury reported to the Congress that it added Viet Nam together with Ireland, Italy, Malaysia and Singapore to a watch list that already included China, Germany, Japan and the Republic of Korea.

In previous reports, the Treasury Department scrutinized 12 biggest trade partners of the US but the Department increased monitoring criteria to include any country that had more than US$ 40 billion in bilateral goods traded, thus the total partners rose to 21, including Viet Nam, in this May report.

The report read Viet Nam’s current account balance has trended higher over the last decade, rising to a surplus of more than 5% of GDP in the four quarters through June 2018./.

By Huong Giang