World Bank backs Vietnam’s macroeconomic stabilization
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World Bank expert has suggested Vietnam to continue key measures to curb inflation, stabilize the macro economy and ensure social welfare.
Vietnam should continue implementation of the Government’s Resolution No.11 in a stable and effective way to reset three macro economic indices of inflation, forex rate and foreign reserve.
WB chief economic expert Deepak Mishra at the press conference Thursday prior to the Consultative Group’s mid-term meeting in Hanoi, said Vietnam had achieved success in stabilizing the macro economy.
These included easing inflation, narrowing the gap between official and black market forex rates while foreign reserve was kept at import value for two and a half months.
The WB expert, however, refused to say whether Vietnam would be able to achieve the three targets as it depended on the effects of the Government’s short term measures in Resolution. 11.
A mid-term consultative group meeting for Vietnam will take place in central Ha Tinh Province next week, announced World Bank Country Director for Vietnam Victoria Kwakwa at the press conference.
The two-day meeting will focus on four main themes: macroeconomic stabilization, protection of poor people, fighting corruption in the mining industry and the effectiveness of aid, she said.
