Prime Minister Pham Minh Chinh receives IMF Managing Director

On the sidelines of the 43rd ASEAN Summit, the two sides shared the view that countries need to join hands to seek new drivers for growth, including green growth, circular economy, sharing economy...

ASEAN-43: Thủ tướng Phạm Minh Chính tiếp Giám đốc điều hành IMF

Within the framework of attending the 43rd ASEAN Summit, Prime Minister Pham Minh Chinh received IMF Managing Director Kristalina Georgieva. (Photo: Anh Son)

On September 4, on the occasion of attending the 43rd ASEAN Summit and related conferences in Jakarta, Indonesia, Prime Minister Pham Minh Chinh received Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva.

At the meeting, Ms. Kristanila Georgieva emphasized that the positive growth of ASEAN's economy in general and Vietnam's economy in particular has made important contributions to promoting sustainable growth of the world economy in recent times.

Prime Minister Pham Minh Chinh thanked the IMF and the Managing Director personally for actively supporting Vietnam in consulting and policy making, helping to stabilize the macro-economy and finance-monetary, and economic recovery.

The Prime Minister highly appreciated the role of the IMF in promoting economic recovery after the pandemic and proposed major directions to resolve difficulties and challenges; affirmed his readiness to work with the IMF to implement the Agenda focusing on three pillars: stabilizing the macro-economy, supporting vulnerable countries and promoting growth.

Regarding the world economic situation in the coming time, Ms. Kristalina Georgieva assessed that there are still many difficulties, uncertainties, high inflation, high interest rates, and growth is expected to continue to decline; Vietnam itself is also suffering negative impacts from this situation.

Sharing this opinion, the Prime Minister said that the world economy is being strongly and deeply affected by many factors, including the long-term impacts of the Covid-19 pandemic, the conflict in Ukraine, the tightening monetary policies of many world economies, the decline in total supply and demand, stagnant production and business, affecting the lives of all classes of people.

To overcome current difficulties and challenges, the Prime Minister and the CEO agreed that comprehensive solutions are needed in both politics and economics, ensuring a peaceful and stable environment; emphasizing the importance of strengthening international solidarity, promoting multilateralism and continuing to promote international integration.

Overview of the reception. (Photo: Anh Son)

The two sides shared the view that countries need to join hands to seek new drivers for growth, including green growth, circular economy, and sharing economy; mobilize resources to expand production and business, create more jobs for people, promote innovation and startups, and not politicize economic and scientific and technological issues.

The two sides need to increase the signing and negotiation of free trade agreements, remove trade barriers to facilitate the global circulation of goods; handle differences peacefully and cooperatively; and promote the mobilization of resources for development through public-private partnerships.

The Prime Minister emphasized that in the context of complex global economic developments with many potential risks, Vietnam is and will continue to implement the above-mentioned groups of solutions to achieve the goals of maintaining macroeconomic stability, controlling inflation, maintaining growth momentum, ensuring major balances of the economy, controlling public debt; implementing flexible and effective monetary policies; focusing on key fiscal policies; promoting both domestic and foreign investment, especially investment in the state sector.

Vietnam will also coordinate and call on major economic centers, including ASEAN, to join hands in implementing the above solutions.

The IMF Managing Director shared that in the coming time, the IMF will continue to have solutions to help member economies increase their resilience to future shocks.

In the face of the current fragmentation trend of the world economy, we hope that ASEAN in general and Vietnam in particular, based on the economic growth achievements achieved through the open-door policy and international economic integration, will promote the role of connecting economies and have a stronger voice in promoting global cooperation.

Prime Minister Pham Minh Chinh affirmed that Vietnam is ready to join hands with the IMF to implement measures to promote economic recovery; at the same time, he hopes that the IMF will continue to help Vietnam with consulting, policy planning and technical assistance so that Vietnam can achieve its development goals in the coming time.

On this occasion, Prime Minister Pham Minh Chinh respectfully invited CEO Kristalina Georgieva to visit Vietnam soon and Ms. Kristalina Georgieva happily accepted the invitation.

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