Vietnam: Selected Issues

International Monetary Fund

No 1996/146, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper on Vietnam analyzes interest rate policy under credit control. There are a number of issues involved in setting interest rates in the presence of bank-by-bank credit ceilings that do not arise in other controls. In Vietnam, as macroeconomic stabilization has taken hold, the inconsistencies of an administratively controlled financial system are becoming more evident. This points to the importance of moving quickly to develop additional policy tools so that interest rate policy can be freed from the tradeoffs being faced, allowing different policy objectives to be pursued independently.

Keywords: ISCR; CR; interest rate; rate; credit; current account deficit; credit ceiling; lending rate; current account; deposit rate; debt service; FDI flow; Foreign direct investment; Current account deficits; Deposit rates; Credit ceilings; Interest rate policy; Asia and Pacific (search for similar items in EconPapers)
Pages: 40
Date: 1997-01-23
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