IMF, Vietnam extend talks on possible loan, may end wednesday
HANOI - A high-level International Monetary Fund delegation has extended talks with the Vietnamese
government, which had been due to wrap up late Tuesday, in a bid to reach an agreement on conditions for fresh lending.
An IMF official in Hanoi told Dow Jones Newswires that the delegation is now meeting with members of Vietnam's
government and may conclude discussions later Wednesday.
As reported, the delegation is led by Chapen Puckahtikom, assistant director of the IMF's Asia Pacific Department. It has been
in Vietnam for more than a week meeting with members of the government office, central bank, finance ministry, and other
government bodies.
The IMF cut lending to Vietnam in 1996, half way through a three-year program it begun in 1995. It said Hanoi wasn't carrying
out the structural changes IMF cash was designed to fund.
But signs last year that Vietnam's leadership is now serious about reform provided the impetus for new talks. The country last
year launched a stock market, signed a market-opening trade agreement with the U.S. and allowed more private enterprise.
IMF Vietnam representative Dennis de Tray has said his organization will likely offer Vietnam several hundred million dollars if
ongoing talks are successful.
An official at the central bank said the talks are focusing on how IMF funds can help Vietnam reform its banking sector, state
enterprise sector and trade regime, as well as reduce overall poverty.
By Catherine McKinley - Dow Jones Newswires - January 17, 2001.
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