Head of Party’s Economic Commission Hosts IFM Official

Vietnamese Party and State leaders always attach importance and listen to consultations and recommendations of the International Monetary Fund

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Head of the of the Party Central Committee’s Economic Commission Tran Tuan Anh received a delegation from the International Monetary Fund (IMF) led by Deputy Managing Director of the International Monetary Fund (IFM) Antoinette Sayeh in Hanoi on January 9, VNA reported.

Deputy Managing Director of the International Monetary Fund (IFM) Antoinette Sayeh and head of the Party Central Committee's Economic Commission Tran Tuan Anh. Photo: VNA
Deputy Managing Director of the International Monetary Fund (IFM) Antoinette Sayeh and head of the Party Central Committee’s Economic Commission Tran Tuan Anh. Photo: VNA

IFM Deputy Managing Director of Antoinette Sayeh has lauded Vietnam for its high economic growth and controlled inflation over the past years despite global uncertainties.

Sayeh spoke highly of guidelines and policies adopted by the Vietnamese Party and State to stabilise the macro economy and reform the growth model in response to climate change.

The IMF will always accompany Vietnam in post-Covid recovery and development, she pledged, expressing her hope for stronger cooperation with Vietnamese agencies, particularly the Economic Commission.

For his part, Anh said Vietnamese Party and State leaders always attach importance and listen to consultations and recommendations of the IMF, which have helped the country devise more effective macro-economic, fiscal and monetary policies.

At the reception. Photo: VNA
At the reception. Photo: VNA

He highlighted the IMF’s regular, quality reports on Vietnam’s macro economy, and thanked the fund for its support in personnel training. At the same time, he informed the delegation about the macroeconomic situation of Vietnam in the period of 2019 – 2022, drawing valuable lessons and experiences in economic management; development orientations and policies in the coming time, in which priority is given to strengthening the macro foundations, renovating the growth model, towards sustainable growth.

The official hopes that the IMF will continue to accompany and support Vietnam in the coming time.

In October 2022, Prime Minister Pham Minh Chinh had reveived Era Dabla-Norris, head of the IMF’s Article IV Consultation of the Department of Asia-Pacific, in Hanoi.

As Vietnam is a developing country conducting transition and still facing numerous difficulties, he asked the IMF to increase policy advice on economic governance and risk response for the Government and relevant agencies, continue providing training programmes and technical support on economic management, and actively help the country with green economy development, energy transition, climate change response, digital transformation, and the development of a digital economy and e-commerce.

At the meeting, the IMF representative raised many recommendations, including combining macro-policies in a prudent, concerted, unanimous and consistent manner, properly implementing policy marketing to manage risks and mitigate policy selection’s impacts, and properly carrying out the recovery and development programme.

Hannah Nguyen