Vietnam's bad and overdue debts 11.7% of loans

Vietnam's "bad, overdue and uncollectible debts," now total 11.7% of the country's total outstanding loans, central bank governor Le Duc Thuy said Wednesday.

In a televised address to members of the country's law making National Assembly, Thuy said that figure represents a 2% decrease against the figure at the end of 1999. However, he noted that the number of bad and overdue debts have risen in absolute terms since last year, largely because people in flood-hit areas have been unable to repay