~ Le Viêt Nam, aujourd'hui. ~
The Vietnam News

[Year 1997]
[Year 1998]
[Year 1999]
[Year 2000]
[Year 2001]

World Bank warns Vietnam on economy

The World Bank has warned Vietnam that its economic growth next year will be much slower than expected unless it implements urgent reforms.

The Bank's representative in Hanoi, Andrew Steer, said Vietnam had to dismantle export barriers and adopt a more flexible exchange rate policy if it was to compete with South-East Asian countries which have devalued their currencies.

Mr Steer's remarks came a day before the Vietnamese national assembly is due to resume debate on new banking laws.

Correspondents say confidence in the banking system has been hit recently by the Central Bank's haphazard handling of foreign exchange, and by bad lending by other state banks.


BBC - Nov 21, 1997