IMF warns Vietnam against rapid rate cuts

The IMF warned Vietnam on Wednesday that it risks hard-won market stability by trying to cut lending rates too fast, and said it should maintain the level of the dong currency to safeguard financial calm.

* Vietnam hits back at IMF criticism

"The repeated announcements by the government about the need to lower the commercial lending rates may be counter-productive," the International Monetary Fund said in a regular review of Vietnam's economic health.

Reuters

>   Banks can hit 25% loan growth target: Experts (13/09/2010)

>   Vietnam lenders shrug off Fitch downgrades  (11/09/2010)

>   Banks complain they cannot find mid-level managers (10/09/2010)

>   SBV to review capital rules (10/09/2010)

>   Vietinbank appointed as service bank for HSP (10/09/2010)

>   Big banks lose with card services? (09/09/2010)

>   Banks struggling to increase credit in last months of the year (09/09/2010)

>   Banks now seeking clients via… phones (09/09/2010)

>   Gold hits new high (08/09/2010)

>   Vietcombank receives official approval to increase capital (08/09/2010)