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SBV Governor attends 42nd ADB Annual Meeting
Governor Nguyen Van Giau of the State Bank of Vietnam (SBV) led the SBV delegation to attend the 42nd Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) in Bali, Indonesia, from May 2 to May 5.
The SBV Governor had a meeting with the ADB President, Mr. Haruhiko Kuroda, on May 2. The SBV Governor briefed the ADB President of the economic situation of Vietnam in 2008 and in Quarter 1/2009. He stated that in face of difficulties and challenges caused by the global financial and economic crisis, Vietnam economy has remained stable and obtained positive results thanks to the decisive and consistent policies and measures taken by the Government. He cited that the gross domestic product (GDP) of Vietnam was still at the rate of 3.1% in Quarter 1/2009 in spite of a YoY decrease, and the macro-economic indicators have remained stable, especially inflation control.
In addition, the SBV Governor, on behalf of the Government, expressed his high appreciation and sincere thanks to the ADB President for his policy advice in formulating and managing macro-economic policies of the Vietnamese Government. He added that the ADB loans in 2008 and 2009 have contributed effectively to the Vietnamsese Government’s efforts in implementing the policy packages with the aim of preventing economic decline, maintaining the economic growth, stabilizing macro-economy, proactively curbing inflation and securing social protection. At the same time, he expressed his hope that in the coming time ADB would continue to provide further assistance and support to Vietnam in particular and other member countries in general in order to cope with negative impact of the global crisis, and to successfully meet the targets of economic development and poverty reduction.
For his part, the ADP President congratulated the Vietnamese Government on its achievements in 2008, especially in curtailing inflation and stabilizing macro-economy. The President also spoke highly of what Vietnam achieved in Quarter 1/2009 as one of a few countries having obtained the positive growth rate in the context of the global economic recession. Together with the success in the fifth substantial capital increase to 200%, the ADB President hoped to further provide both financial support and policy advice to Vietnam in the coming time.
Diem Hang
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