New Regulations on Revenue and Expenditure of the Debt Repayment Accumulation Fund

The content of the revenues and expenditures of the Debt Accumulation Fund is detailed in Decree 92, specifically:

1. Revenues include:

- Recovery of on-lending debts.- Collection of risk provisions for on-lending debts.- Collection of management fees for on-lending.- Guarantee fees and penalty interests for late payment of guarantee fees (if any).- Recovery of advance funds from the Debt Accumulation Fund.- Revenues from debt restructuring and debt portfolio management operations.- Interest income from deposits, lending, capital management entrustment, and investment of the Fund.- Other legal revenues.

2. Expenditures include:

- Foreign debt repayment (principal, interest), fees (if any) for loans used for on-lending.- Advance funds to repay foreign debt for loans used for on-lending, government guarantees according to the decision of the Prime Minister of the Government of Vietnam.- Risk management expenditures as decided by the Prime Minister of the Government of Vietnam.- Expenditures for public debt management operations from revenue sources of on-lending management fees and guarantee fees as regulated by the Prime Minister of the Government of Vietnam.- After balancing the usage for the above expenditures, the Fund is allowed to use temporarily idle capital to lend to the state budget, invest idle capital, or purchase government bonds.

Decree 92/2018/ND-CP takes effect on July 01, 2018.

-Thanh Lam-

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