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© 2009 International Monetary Fund
April 2009IMF Country Report No. 09/
110
 [Month, Day], 201 August 2, 2001
Vietnam: 2008 Article IV Consultation—Staff Report; Staff Supplement andStatement; Public Information Notice on the Executive Board Discussion; andStatement by the Executive Director for Vietnam
Under Article IV of the IMF’s Articles of Agreement, the IMF holds bilateral discussions withmembers, usually every year. In the context of the 2008 Article IV consultation with Vietnam, thefollowing documents have been released and are included in this package:
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The staff report for the 2008 Article IV consultation, prepared by a staff team of the IMF,following discussions that ended on December 18, 2008, with the officials of Vietnam oneconomic developments and policies.
 
Based on information available at the time of thesediscussions, the staff report was completed on February 27, 2009. The views expressed in thestaff report are those of the staff team and do not necessarily reflect the views of theExecutive Board of the IMF.
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A staff supplement on the joint IMF/World Bank debt sustainability analysis.
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A staff statement of March 16, 2009, updating information on recent developments.
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A Public Information Notice (PIN) summarizing the views of the Executive Board asexpressed during its March 16, 2009 discussion of the staff report that concluded theArticle IV consultation.
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A statement by the Executive Director for Vietnam.The policy of publication of staff reports and other documents allows for the deletion of market-sensitiveinformation.
Copies of this report are available to the public fromInternational Monetary Fund
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Publication Services700 19
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Street, N.W.
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 Washington, D.C. 20431Telephone: (202) 623-7430
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Telefax: (202) 623-7201E-mail:publications@imf.org 
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Internet: http://www.imf.org
International Monetary FundWashington, D.C.
 
 
 
 
 
INTERNATIONAL MONETARY FUNDVIETNAM
Staff Report for the 2008 Article IV Consultation
Prepared by the Staff Representatives for the 2008 Consultation with VietnamApproved by Kalpana Kochhar and Tessa van der WilligenFebruary 27, 2009
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Discussions:
Ho Chi Minh City during December 3–4, 2008 and Hanoi duringDecember 5–18. The mission met with State Bank of Vietnam Governor Giau,Vice Minister of Finance Ha, Vice Minister of Planning and Investment Sinh,other senior government officials, and private sector representatives.
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Staff team:
Messrs. Ishii (Head), Chensavasdijai, and Maliszewski (all APD),Christofides (SPR), Mses. Ivanova (FAD) and Gobat (MCM), and Mr. Bingham(Senior Resident Representative). Messrs. Warjiyo and Raman (OED) attendedsome of the meetings.
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Past advice:
The 2007 Article IV consultation was concluded on October 26, 2007.The IMF and authorities have generally agreed on policy priorities, includingcontaining inflation, protecting financial stability, advancing banking sector reform,and ensuring debt sustainability.
 
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Consultation focus:
Near-term policies to ensure macroeconomic and financialstability amid the global downturn. Structural reforms to sustain growth andcontinue poverty reduction.
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Outreach:
The mission issued a press release at the end of the mission in Hanoiand held staff seminars at the State Bank of Vietnam and a meeting with donors.
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Exchange arrangement:
The exchange rate regime is currently classified as an“other managed arrangement.” Vietnam has accepted the obligations of Article VIII, Sections 2, 3, and 4 of the Articles of Agreement and maintains anexchange system free of restrictions on the making of payments and transfers for current international transactions.
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Economic statistics:
Broadly adequate for surveillance purposes, but importantshortcomings remain in
 
the areas of fiscal, state-owned enterprise, and bankingoperations.
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