State Bank of Vietnam and IMF CDOT set priorities to extend technical assistance and training on monetary policy and statistics

The State Bank of Vietnam met with the International Monetary Fund (IMF) Capacity Development Office in Thailand (CDOT) to review ongoing capacity development cooperation and agree on areas for continued support, highlighting progress under technical assistance on the Forecasting and Policy Analysis System (FPAS) and External Sector Statistics (ESS). The State Bank of Vietnam noted it regularly sends staff to CDOT training and workshops, and said the FPAS work is largely completed and is being used to support policy formulation and operations. It also reported that the ESS program has supported adoption of modern methodologies and a comprehensive review of the scope, completeness and timeliness of data, including benchmarking against international standards and IMF guidance in light of domestic legal frameworks. Looking ahead, the State Bank of Vietnam asked CDOT to focus support on a modern monetary policy operating framework, macroeconomic analysis and forecasting, modelling of policy transmission, foreign exchange reserves management, monetary and financial statistics, balance of payments, and financial stability analysis and banking supervision. The bank’s technical units were tasked with holding further technical sessions with CDOT experts to define priority needs for future training and technical assistance, with CDOT confirming it will continue to coordinate on the design and delivery of activities.