State Bank of Vietnam attends BIS Annual General Meeting and discusses branch restructuring and FSB Asia consultative group co-chair role with peers

The State Bank of Vietnam reported that a delegation led by Deputy Governor Pham Thanh Ha attended the 95th Annual General Meeting of the Bank for International Settlements (BIS) in Basel on 27–29 June 2025, alongside associated policy discussions and bilateral engagements. The programme included briefings on the BIS Annual Economic Report 2025, which flagged greater headwinds to a global “soft landing” after major trade policy shifts and identified low productivity and population ageing, high public debt and rapid expansion of the non-bank financial sector as key risk areas. Ha also participated in the 24th BIS annual seminar covering topics including financial digitalisation and innovation, BigTech in credit and payments, the impact of cryptoassets on financial system structure, central bank liquidity provision, fiscal–monetary interactions under high public debt and policy challenges under uncertainty, and attended the Global Economy Meeting as an observer. On the sidelines, the delegation met the Central Bank of Brazil to exchange experience on central bank organisational structures ahead of the State Bank of Vietnam’s branch network being aligned with provincial administrative reorganisation from 1 July 2025, and met the Reserve Bank of Australia to review cooperation and discuss preparations to co-chair the Financial Stability Board’s Regional Consultative Group for Asia for the 2025–2027 term. The visit concluded with a courtesy call on BIS General Manager Agustín Carstens ahead of the end of his term on 30 June 2025.