Vietnam
Initiative: BoT and MAS’s PromptPay-PayNow link
Connecting the two nations’ instant payment systems is empowering citizens
Vietnam’s central bank warns of high inflation risk in 2022
Governor Nguyen Thi Hong admits bad debts have increased, as banks struggle with impact of Covid
Transactional cash usage ebbs and flows in response to Covid-19
The proportion of payments made in cash ranged from 3% to 88%
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
The BIS general manager speaks about policy trade-offs at critical time, tackling NBFIs and the dearth of ‘green’ assets, tech collaboration, and why he favours Biden’s $3.5trn infrastructure bill
Vietnamese government tells central bank to draft fintech rules
Move follows central bank warnings of dangers posed by unregulated fintech sector
Vietnam central bank and US Treasury sign currency pact
US had briefly labelled Vietnam a “currency manipulator”
Vietnam’s central bank to pilot ‘virtual currency’
Prime minister orders central bank to develop blockchain-based prototype by 2023
The Belt and Road Initiative 2021 Survey – The impact of Covid‑19 on the BRI
The fourth annual Belt and Road Initiative survey reveals that the Covid‑19 pandemic has disrupted many projects despite China remaining committed to financing the initiative, which is expected to support future economic growth and environmental…
People: UK’s FCA appoints head of ESG
Burundian senior officials switch roles and senior Vietnamese supervisor is promoted
US brands Switzerland a ‘currency manipulator’
Treasury also accuses Vietnam of manipulating exchange rate to gain “unfair competitive advantage”
Vietnamese politburo warns former central bank governor
Nguyen Van Binh formally warned over handling of bad debts and loans to bank
Vietnamese central bank gets first female governor
Deputy governor Nguyen Thi Hong to become the first governor of State Bank of Vietnam
State Bank of Vietnam governor steps down to take senior party role
Vietnam government assigns SBV governor to new party role, without announcing his successor
World Bank grants Vietnam $6.2 million Covid-19 aid
Central bank deputy says support is ‘meaningful and necessary’ as virus returns to country
Fears rise over breakdown in Basel and IFRS standards
Bretton Woods institutions worried about growing divergence in capital and accounting standards as credit impairment tsunami looms; US and many emerging economies skirting the rules
People: Sandra Boss quits BoE roles to join BlackRock
Prudential committee member to join asset manager; Coeuré to head committee on Covid-19; State Bank of Vietnam appoints new director-general
Transfer season
Trade frictions with the US have caused a mass industrial transfer to China’s neighbours. Zhou Chengjun, IFF Academic Committee member and inspector of the Macro‑prudential Policy Bureau of the People’s Bank of China, says that shouldn’t stop China…
Major economies already engaging in ‘currency wars’ – former IMF chief
De Larosière floats new commodity-based exchange rate regime; says “trust” is key to avoiding “beggar-thy-neighbour” policies
Book notes: The art of economic catch-up, by Keun Lee
Rather than merely catch-up, the book offers countries advice in making a sea change in their economic statuses
BSP governor rules out Philippines involvement in Asian currency war
Rate cuts by Central Bank of the Philippines due to ‘domestic factors’
PBoC is navigating into uncharted waters on RMB
Beijing and its central bank need to think carefully and act responsibly as the renminbi is steered into uncharted waters
Three Asian central banks rebuff US claims of currency manipulation
Singapore, Malaysia and Vietnam respond to being placed on US Treasury watch list
People: Ghana’s Addison to chair Ecowas governors
Thailand appoints assistant governor; Vietnam announces deputy payments director
People: Nellie Liang withdraws from Fed nomination; World Bank chief resigns
Trump nominee had played a key role in setting up the Fed’s stress tests; Kim was due to leave World Bank presidency in July 2022; further appointments in UK, Vietnam and Ghana