Viet Nam among countries making most effective use of IMF support

Sommer made that above statement during his meeting with Prime Minister Pham Minh Chinh in Ha Noi on March 27.

He praised the country's policy planning and management of socio-economic development amid global fluctuations, expressing his satisfaction with the effective cooperation between Viet Nam and the organization.

The official offered recommendations for Viet Nam to continue maintaining macroeconomic stability, controlling inflation, ensuring financial and energy security, and managing public debt, government debt, and external debt.

Sommer named several measures to effectively monitor fiscal and monetary policies, diversify development resources, remove economic bottlenecks, and administrative reforms so that the nation's economy can better withstand external shocks.

Pham, for his part, hailed the IMF's substantive and effective cooperation with Viet Nam in recent years, noting that the delegation's assessments and recommendations have provided an important reference basis, helping the country proactively and flexibly formulate and implement monetary and fiscal policies, thereby maintaining macroeconomic stability and promoting growth.

He expressed his hope that the IMF would further enhance the quality of its dialogue and policy consultations with Viet Nam and continue accompanying Viet Nam by promptly sharing global and regional economic assessments and forecasts.

The Government leader urged the IMF continue helping Viet Nam strengthen technical assistance and institutional capacity building, modernize the monetary and macroprudential policy framework, reinforce financial and banking system safety, develop capital markets, improve statistical systems and forecasting capacity, and support structural reforms to boost productivity.

The Vietnamese government stands ready to engage in in-depth exchanges and share information in accordance with regulations, working with the IMF to develop assessments and recommendations that are aligned with Viet Nam's realities and development goals, thereby contributing to peace, cooperation, and development in the region and the world, emphasized the host./.