Information about Asia and the Pacific Asia y el Pacífico
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Statement by the Staff Representative on Vietnam Executive Board Meeting, May 25, 2012

Author(s):
International Monetary Fund
Published Date:
July 2012
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Information about Asia and the Pacific Asia y el Pacífico
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1. This statement provides information that has become available since the staff report (SM/12/95) was circulated to the Executive Board on April 30, 2012. This information does not alter the thrust of the staff appraisal.

2. Inflation has continued to decelerate. Inflation slowed to 8.3 percent (y/y) in May, the first time in single digits since October 2010.

3. The authorities revised their estimate of the current account for 2011. Instead of a deficit of $0.7 billion (0.5 percent of GDP), the current account now shows a surplus of $0.2 billion (0.2 percent of GDP). This revision does not change overall gross international reserves accumulation, which remains at $13.5 billion.

Summary Balance of Payments, 2011(In billions of U.S. dollars, unless otherwise indicated)
2011
RevisedPrevious
Current account balance0.2–0.7
Of which: Trade balance–0.4–0.4
Capital and financial account balance6.45.4
Errors and omissions–5.5–3.6
Memorandum items:
Gross international reserves13.513.5
In months of prospective GNFS imports1.31.3
Current account balance (in percent of GDP)0.2–0.5
Capital and financial account balance (in percent of GDP)5.24.4
Sources: Vietnamese authorities.
Sources: Vietnamese authorities.

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