PM chairs conference on monetary policy management

Prime Minister Pham Minh Chinh and Deputy Prime Minister Le Minh Khai co-chaired a conference in Hanoi on March 14 to deploy tasks in monetary policy management, tackling difficulties in production and trade, promoting growth, and stabilizing the macro-economy.

The Prime Minister asked participants, in particular leaders of commercial banks, to focus discussions on seeking specific solutions to certain key issues, including managing monetary policy, especially interest rates and exchange rates, to boost growth, stabilize the macro-economy, curb inflation, and ensure major balances in the economy.

He also asked that reasons be identified as to why many businesses still find it hard to gain access to credit despite banks having a capital surplus, and to discuss solutions to help businesses and people gain greater access to credit.

Measures are also needed to tackle obstacles to ensure the effective supply of credit from the banking system for the economy and for every sector, Prime Minister Chinh said.

He asked commercial banks to act to ensure they meet the credit growth target of 15 per cent set by the State Bank of Vietnam (SBV) for 2024.

The Prime Minister also raised the question of what the government, the SBV, ministries, sectors, localities, the business community, and people need to do to boost investment and consumption and increase the possibility of businesses absorbing capital.