Vietnam: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vietnam

Vietnam: 2023 IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vietnam
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Volume/Issue: Volume 2023 Issue 338
Publication date: September 2023
ISBN: 9798400256899
$20.00
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Topics covered in this book

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Finance , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , State budget , policy buffer , U , S , dollar , monetary policy decision-making process , USD trading band , Corporate bonds , Securities markets , Global

Summary

After a strong post-pandemic recovery, the economy faces strong headwinds. A weaker external environment led to a sizable decline in exports. In addition, amidst high private debt and rising global interest rates, a liquidity crunch distressed highly leveraged sectors (in particular, real estate), the corporate bond came to a halt, and nonperforming loans rose. As a result, economic activity decelerated sharply in the first half of 2023. While the government managed to stabilize the markets, risks remain elevated.