The International Monetary Fund (IMF) has sent a delegation to Viet Nam to help the country re-evaluate its GDP size at the invitation of the General Statistics Office (GSO). GDP growth rates in 2015-2018 period and Government's growth goal for 2019. Robert Dippelsman, head of the IMF Statistics Department, said good statistical data will help IMF member countries, especially fast-developing economies, to better design economic management policies. This is not the first time Viet Nam re-evaluates the GDP size in accordance with international practices, Nguyen Bich Lam, GSO Director-General told a room of reporters Friday. The re-evaluation of the GDP will provide basis for Viet Nam to develop 10-year socio-economic development strategy for 2021-2030 and five-year socio-economic development plan for 2021-2025, Lam said. The official statistics show Viet Nam’s economy expanded nearly 6.67% on average between 2015-2018. The Government set goal to achieve the growth rate of … [Read more...] about International Monetary Fund to help re-evaluate GDP
International monetary fund
China central bank chief says plenty of room for monetary adjustments amid trade row
China central bank chief says plenty of room for monetary adjustments amid trade rowThe Saigon Times Daily China's Central Bank Governor Yi Gang speaks at the annual session of China Development Forum (CDF) 2018 at the Diaoyutai State Guesthouse in Beijing, China March 25, 2018 – PHOTO: REUTERS NUSA DUA (REUTERS) - China central bank governor Yi Gang said on Sunday he still sees plenty of room for adjustment in interest rates and the reserve requirement ratio (RRR), as downside risks from trade tensions with the United States remain significant. China faced “tremendous uncertainties” due to the impact of tariffs and trade frictions and was seeking a “constructive solution” to the current trade tensions, Yi said at a seminar on the sidelines of the annual International Monetary Fund and World Bank meetings on the Indonesian island of Bali. “We still have plenty of monetary policy instruments in terms of interest rate policy, in terms of RRR. … [Read more...] about China central bank chief says plenty of room for monetary adjustments amid trade row
ADB promises 1 billion USD in emergency fund for Indonesia
Rescuers bring a body out of rubble after earthquakes and subsequent tsunami in Palu, Central Sulawesi province in late September (Photo: Xinhua/VNA) Hanoi (VNA) - The Asian Development Bank (ADB) has pledged 1 billion USD in emergency assistance fund to support Indonesia's reconstruction efforts in areas affected by earthquakes and subsequent tsunami in Central Sulawesi province. The promise was made at a meeting between ADB President Takehiko Nakao and Indonesian President Joko Widodo on the sidelines of the annual meeting of International Monetary Fund and the World Bank held in Bali on October 12. The ADB emergency assistance fund consists of 500 million USD to support the Indonesian Government's emergency budget and 500 million USD to finance reconstruction of important infrastructure, such as water supply and sanitation, schools, roads and bridges, and electricity networks among others. The emergency assistance fund is on top of the ADB's regular sovereign loan … [Read more...] about ADB promises 1 billion USD in emergency fund for Indonesia
IMF raises funds to aid quake-tsunami survivors in Indonesia
The ruinous scene in Palu, Central Sulawesi of Indonesia after the disasters (Source: Xinhua/VNA) Jakarta (VNA) – The International Monetary Fund (IMF)’s staff have raised a total of 2 billion Rupiah (around 131,000 USD) to assist survivors of earthquakes and subsequent tsunami in Indonesia’s Central Sulawesi province as well as quake-affected people in Lombok, West Nusa Tenggara province. IMF Managing Director Christine Lagarde said the IMF will directly transfer the money to the Indonesian Red Cross and other non-governmental organisations such as the World Central Kitchen and World Vision. Finance and monetary institutions of Indonesia have also launched campaigns to raise funds in support of victims in the recent natural disasters. The Bank Indonesia – the country’s central bank – collected 500 million Rupiah for affected people. BI Governor Perry Warjiyo said the sum will be used to repair five Islamic churches and two schools in … [Read more...] about IMF raises funds to aid quake-tsunami survivors in Indonesia
Argentina seeks emergency release of $50bn in IMF funds amid financial crisis
A demonstrator holds an anti-IMF sign during a protest against the G20 Meeting of Finance Ministers in Buenos Aires, Argentina in July - Photo: Reuters Argentina’s President Mauricio Macri has asked the International Monetary Fund for an early release of funds from a US$50bn deal to ease concerns that the country will not be able to meet its debt obligations for 2019. Macri said in a televised address that Argentina had agreed with the IMF “to advance all necessary funds to guarantee compliance with next year’s financial program”. Macri said that in the past week there had been “expressions of a lack of trust in the markets” about Argentina. He said the decision sought to dispel any uncertainty, but he did not specify the amount or when the funds would be released. Argentina was forced to strike a deal with the IMF earlier this year after a sharp depreciation of its currency and a run on the peso. The three-year standby financing deal is aimed at … [Read more...] about Argentina seeks emergency release of $50bn in IMF funds amid financial crisis