| THE STATE BANK OF VIETNAM ------- No.: 06/CT-NHNN | SOCIALIST REPUBLIC OF VIETNAM Independence– Freedom – Happiness --------------- Hanoi , November 09, 2012 |
DIRECTIVE
ON SOLUTIONS MANAGING MONEYTARY, CREDIT POLICIES AND BANKING ACTIVITIES IN MONTHS AT END OF YEAR 2012 AND BEGINNING OF YEAR 2013
In order to implement directions of Government in the Resolution No.01/NQ-CP, of January 03, 2012 on major solutions for guiding and managing the implementation of socio-economic development plan and state budget estimation of the year 2012 and Resolution No.13/NQ-CP, of May 10, 2012 on some solutions to remove difficulties for production-business and market support, the banking system have implemented drastic solutions in managing monetary policy on a tight, careful and flexible manner, concentrating to remove difficulties for production-business and market support aiming to control inflation, contributing in stability of macro-economy, assurance of social security and maintain of economic growth at reasonable level. The result of managing the monetary policy, banking activities in over 10 months beginning of year 2012 basically attains target as guideline of Government, liquidity of banking system has been ensured and tended to improve, the interest rate surface has reduced strongly, credit structure has continued to shift towards concentrating on incentive fields, the foreign exchange market has been stable, the state foreign exchange reserves have increased, program on re-structuring credit institutions have been implemented in drastic manner, risks of system gradually have been controlled, activities of credit institutions basically have been safe.
However, managing the monetary policy and banking activities in the future shall be still difficult with challenges, need be continued to care and settle, the inflation although it has been controlled at low level, it still has risk of increasing again, the production-business activities have been positive changes but there are still difficulties because domestic and overseas demand is weak, inventory still at high level, banking credit growth is low, bad debts of banks at high level. In order to continue to carry out effective solutions managing monetary, credit policies and banking activities in months at end of year 2012 and beginning of year 2013, in conformity with guidance of Government on solutions to control inflation, stabilize macro-economy, support economic growth at rational level in association with the economic re-structuring and assurance of social security, governor of the state bank request:
