|
Former State Bank Governor to chair Financial Supervisory Committee
Prime Minister Nguyen Tan Dung has appointed Le Duc Thuy, former Governor of the State Bank of Vietnam, the Chairman of the National Financial Supervisory Committee, which is in charge of supervising and announcing risks in banking, securities and insurance areas.
Thuy led the State Bank of Vietnam from late 1999 to July 2007. He is currently the Vice Chairman of the National Financial and Monetary Policy Advisory Council.
The government decided to set up the National Financial Supervisory Committee and appoint a chairman as inflation in the first three months of 2008 reached 9.19%, the highest level in a quarter in the past 13 years.
The government plans to ask the National Assembly to lower social and economic goals set for 2008. In his recent message, which calls for Vietnamese people to cut spending, Prime Minister Nguyen Tan Dung said the high increase of cash supply and credit debt balance are significant reasons for inflation. Last year commercial banks’ debt balance rose 130%.
The National Financial Supervisory Committee will supervise the financial market and financial inspection agencies’ observance of international practices on supervision. The committee will also analyse, predict and warn people about the safety of the financial and banking system and the risks in this market.
The Prime Minister has signed decisions on the retirement as of April 1, 2008 of Deputy Minister of Home Affairs Thang Van Phuc and Deputy Minister of Culture, Sports and Tourism Nguyen Trong Hy, who is also the Chairman of the Vietnam Football Federation.
VNN
|
