What are contents of annual public debt borrowing and repayment plans in Vietnam?

What are contents of annual public debt borrowing and repayment plans in Vietnam?

Pursuant to Article 14 of the Decree 94/2018/NĐ-CP stipulating contents of annual public debt borrowing and repayment plans in Vietnam as follows:

1. Borrowing and repayment plans of the Government:

a) Loan raising plans including issuance of debt instruments in the domestic market, ODA loans, external concessional loans, Government bonds issued in the international market and loans from other sources in accordance with provisions of the Law on State Budget;

b) Loan use plan including making up central government budget deficit, repaying due principals, restructuring Government debts arising from ODA loans and external concessional loans on-lent to People's Committees of provinces, public service providers and enterprises;

c) Principal repayment plans including paying off principals, interests, fees and charges relating to loans and issued debt instruments which consist of plans for repaying Government debts arising from direct loans and loans to be on-lent

2. Borrowing and repayment plans of provinces:

a) Loan raising plans including Government's external loans to be on-lent, issuance of provincial bonds, loans from banks for social policies, state funds, credit institutions and other domestic loans in accordance with provisions of the Law on Public Debt Management and the Law on State Budget;

b) Loan use plans including making up central government budget deficit and repaying due principals;

c) Repayment plans including paying off principals, interests, fees and charges relating to each loan and determining repayment sources

3. Limits on ODA loans and concessional loans to be on-lent and limit on sovereign guarantee shall consist of:

a) Limits on loans to be on-lent including loans to be on-lent to provinces, public service providers and enterprises;

b) annual limit on sovereign guarantee including underwriting for issuance of bonds by Development Bank of Vietnam and banks for social policies and domestic and external loans of enterprises guaranteed by the Government.

What are tasks of People’s Committees of provinces regarding implementation of annual public debt borrowing and repayment plans in Vietnam?

Pursuant to Clause 1 Article 18 of the Decree 94/2018/NĐ-CP stipulating tasks of People’s Committees of provinces regarding implementation of annual public debt borrowing and repayment plans in Vietnam as follows:

1. People’s Committees of provinces shall instruct specialized agencies to implement annual borrowing and repayment plans of provinces to ensure:

a) those plans are carried out within the scope of annual borrowing and repayment plans ratified by National Assembly and People's Council of provinces;

b) outstanding loan in the year shall not exceed the limit prescribed in clause 6 in Article 7 of the Law on State Budget and relevant guiding documents;

c) sum of money for repayment is set aside on schedule.

What are tasks of the Ministry of Finance regarding implementation of annual public debt borrowing and repayment plans in Vietnam? 

Pursuant to Clause 2 Article 18 of the Decree 94/2018/NĐ-CP stipulating tasks of the Ministry of Finance regarding implementation of annual public debt borrowing and repayment plans in Vietnam as follows:

2. The Ministry of Finance shall cooperate with ministries and provinces in implementing the annual borrowing and repayment plan to ensure:

a) total loan and repayment amounts of the Government could balance state budget according to the estimates approved by National Assembly;

b) investment capital from external loans may be disbursed according to state budget estimates;

c) loan and repayment amounts shall not exceed limits on loans to be on-lent and limit on annual sovereign guarantee approved by the Government.

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