Responsibilities of the State Bank of Vietnam in the Public Debt Strategy until 2030
Responsibilities of the State Bank of Vietnam in the Public Debt Strategy until 2030
Pursuant to Clause 3, Article 2 of Decision 460/QD-TTg of 2022, it is stipulated:
- The State Bank of Vietnam has the responsibility to:
- Research, summarize, and evaluate the implementation situation of foreign debt limits in the private sector, report to the Government of Vietnam with proposals on policy additions, amendments, or report to the National Assembly to amend regulations on monitoring and managing foreign debt self-borrowed and self-paid by enterprises and credit institutions to suit the development conditions of the country, the nature of the loan capital, and the borrowers.
- Research and submit for approval from competent authorities the implementation of supplementary measures to manage foreign debt of enterprises and credit institutions under the self-borrowed, self-paid method to more strictly control short, medium - long-term foreign borrowing activities.
- Propose to the Government of Vietnam to refine the legal framework and organizational model regarding financial stability to implement macroprudential policies. Research and submit for approval from competent authorities to apply supervisory measures through safety indicators alongside adjusting the legal framework for managing foreign debt self-borrowed and self-paid in the direction of applying capital flow supervision measures to replace the ceiling limit on self-borrowed, self-paid debt of enterprises and credit institutions.
Responsibilities of Ministries, ministerial-level agencies, Government agencies, and provincial People's Committees to cooperate with the Ministry of Finance in the Public Debt Strategy until 2030
Pursuant to Clause 4, Article 2 of Decision 460/QD-TTg of 2022, it is stipulated:
- Ministries, ministerial-level agencies, Government agencies, and People's Committees of provinces and centrally-run cities must cooperate with the Ministry of Finance, relevant agencies based on their functions, and state management tasks as prescribed by law to direct and participate in the implementation of relevant contents of this Strategy; organize efficient use of public debt resources, arrange debt repayment sources fully and timely, be responsible for accountability, and implement periodic reporting policies as prescribed.
Respectfully!
