Vietnam: Tasks of accounting of the accumulated fund for repayment of debts

According to Circular No. 109/2018/TT-BTC of the Ministry of Finance of Vietnam, tasks of accounting of the accumulated fund for repayment of debts include:

- Collecting, processing, checking, monitoring and analyzing assessment information on the recovery of domestic debts from foreign borrowed funds on-lent by the Government; the collection of provisions for risks to on-lent funds; the collection of on-lending management fees; the collection of the Government’s guarantee fees and interest on late payment of guarantee fees (if any) in order to ensure repayment of foreign loans on-lent by the Government; the collection of advance capital from the accumulated funds for repayment of debts; payments from debt restructuring activities and debt portfolios; interest on deposits, loans, entrustment of management of capital and investment of the Fund and other collections in accordance with regulations in force (hereinafter referred to as Fund).

- Collecting, processing, checking, monitoring and analyzing assessment information on the repayment of foreign debts (including principal, interest and fees (if any)) for on-lent borrowed funds; the advance payment of capital for repayment of on-lent foreign loans and the Government’s guarantee under the Prime Minister's decision; state budget expenditures for performing public debt management tasks; funds lent to the state budget, idle capital investments and payments for purchase of municipal bonds under Vietnam’s regulations.

- Monitoring provisions for risks, handling potential risks if the Government offers guarantees for foreign loans of enterprises and credit institutions, and other expenditures on management of the Fund.

View more details at Circular No. 109/2018/TT-BTC of the Ministry of Finance of Vietnam, effective from January 01, 2019.

-Thao Uyen-

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