IMF calls on Vietnam to ease currency peg

- Central Banking staff
- 06 Jan 2005

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The International Monetary Fund forecast on Wednesday 6 January that Vietnam's economy should grow by 7 percent in 2005, and urged authorities to "move cautiously" to ease the nearly fixed dong-dollar exchange rate.

In an annual review of the Vietnamese economy, the IMF also nudged the government to limit its foreign exchange intervention, a move that would help strengthen the country's "modest" reserves, it said.

The IMF said easing the peg would "facilitate adjustments to external shocks and

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