Prime Minister Pham Minh Chinh receives IMF Managing Director

Báo Quốc Tế•04/09/2023

On the sidelines of the 43rd ASEAN Summit, both sides shared the view that countries need to work together to find new drivers for growth, including green growth, circular economy , and sharing economy...

ASEAN-43: Thủ tướng Phạm Minh Chính tiếp Giám đốc điều hành IMF

During the ASEAN-43 Summit, Prime Minister Pham Minh Chinh met with IMF Managing Director Kristalina Georgieva. (Photo: Anh Son)

On September 4th, on the occasion of attending the 43rd ASEAN Summit and related meetings in Jakarta, Indonesia, Prime Minister Pham Minh Chinh met with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva.

During the meeting, Ms. Kristanila Georgieva emphasized that the positive economic growth of ASEAN in general and Vietnam in particular has made a significant contribution to promoting sustainable global economic growth in recent years.

Prime Minister Pham Minh Chinh thanked the IMF and its Managing Director personally for their active support to Vietnam in terms of advice, policy planning, helping to stabilize the macroeconomic and financial-monetary system, and economic recovery.

The Prime Minister highly appreciated the IMF's role in promoting post-pandemic economic recovery and outlined major directions to overcome difficulties and challenges; affirming readiness to work with the IMF to implement the Agenda focusing on three pillars: macroeconomic stability, support for vulnerable countries, and growth promotion.

Regarding the global economic situation in the coming period, Ms. Kristalina Georgieva assessed that there will still be many difficulties and uncertainties, high inflation, rising interest rates, and expected continued growth decline; Vietnam itself is also suffering negative impacts from this situation.

Sharing this view, the Prime Minister stated that the global economy is being strongly and profoundly affected by many factors, including the long-term impacts of the Covid-19 pandemic, the conflict in Ukraine, the tight monetary policies of many economies around the world, the decline in aggregate supply and demand, the stagnation of production and business, and the impact on the lives of all segments of the population.

To overcome current difficulties and challenges, the Prime Minister and the CEO agreed on the need for comprehensive solutions in both political and economic spheres, ensuring a peaceful and stable environment; emphasizing the importance of strengthening international solidarity, promoting multilateralism, and further accelerating international integration.

A view of the reception. (Photo: Anh Son)

Both sides shared the view that countries need to work together to find new drivers for growth, including green growth, circular economy, and sharing economy; mobilize resources to expand production and business, create more jobs for people, promote innovation and entrepreneurship, and avoid politicizing economic and scientific and technological issues.

Both sides need to strengthen the signing and negotiation of free trade agreements, remove trade barriers to facilitate the global flow of goods; handle differences peacefully and cooperatively; and promote the mobilization of resources for development through public-private partnerships.

The Prime Minister emphasized that, in the context of a complex and risky global economy, Vietnam is and will continue to implement the aforementioned solutions to achieve the goals of maintaining macroeconomic stability, controlling inflation, sustaining growth, ensuring major economic balances, controlling public debt; implementing a flexible and effective monetary policy; a focused fiscal policy; and promoting both domestic and foreign investment, especially investment from the state sector.

Vietnam will also coordinate with and call upon major economic centers, including ASEAN, to work together to implement the aforementioned solutions.

The IMF Managing Director shared that in the coming period, the IMF will continue to implement solutions to help member economies strengthen their resilience to future shocks.

Given the current trend of global economic fragmentation, it is hoped that ASEAN in general and Vietnam in particular, building on the economic growth achievements gained through open policies and international economic integration, will further enhance their role in connecting economies and have a stronger voice in promoting global cooperation.

Prime Minister Pham Minh Chinh affirmed that Vietnam is ready to work together with the IMF to implement measures to promote economic recovery; and at the same time, hoped that the IMF would continue to assist Vietnam with advice, policy planning, and technical support to help Vietnam achieve its development goals in the coming period.

On this occasion, Prime Minister Pham Minh Chinh respectfully invited CEO Kristalina Georgieva to visit Vietnam soon, and Ms. Kristalina Georgieva happily accepted the invitation.

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