Vietnam will double the global economic growth

On the occasion of attending the expanded G7 Summit in Hiroshima, Japan, on the morning of May 20, Prime Minister Pham Minh Chinh received Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva.

Prime Minister Pham Minh Chinh expressed his gratitude for the IMF’s support and advice on the Government’s macroeconomic policy management, contributing to building policy frameworks in line with trends and accessing investment funds; hoping that the two sides will have a new phase of more effective cooperation in the face of rapid changes in the world.

The Prime Minister asked the IMF to continue providing policy advice to the Vietnamese Government on economic management, improving fiscal and monetary tools, and restructuring finance and banking.

The Prime Minister shared about Vietnam's success, stable financial market, enhanced national brand, Vietnam's national brand value has the fastest growth rate in the world in the past 3 years, reaching 431 billion USD in 2022, Vietnam increased 12 places in the World Happiness Report 2023. Vietnam's economic development has internal and external factors.

Focus - IMF General Director: Vietnam's economic growth rate will double that of the world — Prime Minister Pham Minh Chinh receives IMF Managing Director Kristalina Georgieva (Photo: VGP).

At the meeting, the Prime Minister had a frank exchange, going straight to issues of concern to both sides, suggesting new issues in the context of continued difficulties in the world economy.

The IMF Managing Director expressed his delight at the positive results of Vietnam's economy, assessing Vietnam as a bright star in the world economic sky, with a stable economy and positive growth rate, in the context of a volatile global economy with many risks and being heavily impacted by the Covid-19 pandemic.

Ms. Kristalina Georgieva highly appreciated Vietnam's socio-economic management policies, early control of the Covid-19 pandemic, and rapid transition to opening the economy; said that the Government's implementation of a firm, proactive, flexible, timely, and effective monetary policy is very appropriate, helping Vietnam maintain its growth momentum in the recent difficult context.

The IMF General Director said that Vietnam's economy is forecast to grow twice as fast as the global economy and the IMF hopes to advise on interest rates, monetary policies, and enhance the self-reliance of Vietnam's economy to respond to the crisis.

Ms. Kristalina Georgieva affirmed that the IMF and she personally strongly support and will accompany Vietnam in its development process .

Source