Lending rate ecb

In 2021 the government’s direct debt service will likely be nearly VND368.3 trillion (over $16 billion) and the public debt will exceed VND4 quadrillion ($173.9 billion), with an increasing debt service. However it is forecasted that by late 2021, the public debt will be about 46.1 per cent of GDP in the case that GDP will be reassessed, and be about 58.6 per cent of GDP if it is not. … [Read more...] about Tight control of debt safeguarding finances

Hanoi (VNA) - The State Bank of Vietnam on November 26 cut the daily reference exchange rate by 1 VND from the previous day down to 23,164 VND per USD. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,860 VND/USD and the floor rate, 22,470 VND/USD. The opening hour rates at most commercial banks rose slightly. At 8:25 am, Vietcombank listed the buying rate at 23,040 VND/USD and the selling rate at 23,250 VND/USD, both unchanged from November 25. BIDV also maintained both rates, listing the buying rate at 23,070 VND/USD and the selling rate at 23,250 VND/USD. Meanwhile, Techcombank raised both rates by 6 VND, listing the buying rate at 23,054 VND/USD and the selling rate at 24,254 VND/USD./. … [Read more...] about Reference exchange rate down 1 VND on November 26

Mr. Lin Zhong, Chairman of CIFI, said "We welcome the upgrade of our corporate family rating and senior unsecured debt rating by Moody's. The move is the capital market's recognition of CIFI's achievements. CIFI raised funds prudently in the offshore capital markets in 2020. The newly issued long-term US dollar debts exceeded 5-year maturity, effectively extending the average debt maturity and lowering the average financing costs. It fully reflects the recognition of credit quality of CIFI by the investors. … [Read more...] about CIFI’s Corporate Family Rating (CFR) Upgraded to ‘Ba2’ and Senior Unsecured Debt Rating on Its Existing Notes Upgraded to ‘Ba3’ by Moody’s Outlook Stable

Dong made this statement at the seminar on International Financing for Independent Power Projects on November 25 in Hanoi. Since 2015, Vietnam has transitioned to a low-middle-income country which reduces its access to concessional sources of finance from development partners such as Official Development Assistance (ODA). “Therefore, capital can only be mobilised from international financial institutions,” he said. The international capital market is very large with tens of thousands of billions of US dollars, more than enough to satisfy Vietnam’s capital need. However, Dong said such capital flows are highly competitive, running on supply-demand principles and certain standards, which requires borrowers to comply. In February this year, the Politburo issued Resolution No. 55-NQ/TQ on Vietnam’s strategic orientations for energy development through 2030 and with an outlook to 2045. To meet the target of a total capacity of all power sources reaching … [Read more...] about International financing key to develop Vietnam’s power sector: Officials

Tran Thi Phuong Lan, Deputy Director of the Hanoi Department of Industry and Trade, said that in implementing the Prime Ministerial Decision on the OCOP Program, the Hanoi People’s Committee has established OCOP product showrooms and points of sale in order to help develop rural production and craft villages. … [Read more...] about Hanoi promotes agricultural production through points of sale