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At the Prime Minister’s meeting with companies, Governor Le Minh Hung stated that the State Bank of Vietnam (SBV) will guarantee the implementation of monetary policy to stabilize the macro and create the conditions for economic recovery later on. Translate The SBV will also keep the exchange rate stable, ready to intervene, will ensure the liquidity of foreign currencies for the economy.
The Governor also promised to have enough capital for the economy, according to the real demand for capital, it is possible to consider increasing credit rates for banks above the beginning of the year. The State Bank has also had an appropriate policy to regulate interest rates. In the coming years, the State Bank will consider further reducing interest rates, refinancing rates, rediscount rates and the open market.
This agency will also continue to instruct credit institutions to reduce costs and profits in order to continue reducing interest rates in the near future.
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SBV Governor Le Minh Hung. Photos: SBV. |
Regarding Circular 01, the Governor said that the document stipulates instructions on the structure of the debt payment schedule, keeping the debt group for clients with no business limit, type of business, regardless of size. companies, regardless of the currency of the loan in VND and USD, regardless of the debt group. The subjects of application are the companies whose income is reduced by credit institutions based on internal regulations in accordance with the process of guaranteeing transparency.
The SBV may consider extending the restructuring period if necessary.
Reporting on the results of the implementation of industry support measures, the Governor said that as of May 8, the banking system has restructured the debt of 215,000 clients with a debt of 130 trillion dong. Credit institutions also lowered interest rates for 260,000 clients with a loan balance of more than $ 1 billion. At the same time, banks also continued to disburse VND 630,000 trillion to 182,000 clients with lower interest rates and exemption from commissions and reduction of more than VND 1 trillion.
Recently, the State Bank of Vietnam has applied the policy of stabilizing the exchange rate, guaranteeing liquidity and, at the same time, issuing Circular 01 to help credit institutions to restructure debts, extend the repayment period and eliminate difficulties for clients. goods. At the same time, the SBV has also proactively proposed refinancing loans at 0% interest rates for companies to pay workers.
In addition, the agency also presented a pilot plan to use mobile accounts to pay for low-value services (mobile money) and amend the decree on promoting cashless payments.
