State Bank of Vietnam hosts IMF surveillance mission as IMF praises flexible policy management and pledges continued technical assistance

The State Bank of Vietnam held talks between Governor Nguyen Thi Hong and the International Monetary Fund’s mid-term macroeconomic surveillance mission led by Martin Sommer, focusing on macro-financial conditions and policy priorities. The IMF noted Vietnam’s recent performance in maintaining growth and controlling inflation, and commended the State Bank of Vietnam’s monetary policy and flexible exchange rate management, as well as ongoing work to strengthen the legal and supervisory framework for banking system safety. Discussions also covered external risks from the international environment, including geopolitical factors and energy price volatility, and their potential implications for inflation and macroeconomic stability. The State Bank of Vietnam reiterated that growth will be pursued alongside inflation control and macro stability, and stated it will continue a proactive and flexible monetary policy stance coordinated with fiscal policy, while maintaining flexible exchange rate management; both sides agreed on the need to strengthen forecasting capacity, develop monetary policy and liquidity-management scenarios, and refine operating plans to respond to adverse shocks. The IMF and the State Bank of Vietnam reaffirmed their cooperation on policy advice and technical assistance, with the IMF indicating it will continue providing support to help further develop the policy framework and strengthen operational capacity.