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Update news loans
The Ministry of Agriculture and Rural Development (MARD) has raised the doubts about the sum of 38 trillion dong disbursed to catfish farmers reported by the State Bank of Vietnam (SBV).
The State Bank of Vietnam has been taking drastic measures to implement its plan to stop the capital mobilization and lending in foreign currencies.
Directors have been worried to death because their businesses have cleaned out, while they need to spend more at the end of the year.
Defined as the credit activities which occur outside banks, shadow banking has become a new big threat.
The government is considering slashing the lending interest rate to 10 percent in an effort to rescue businesses which have been thirsty for capital. However, this has not been welcomed by commercial banks.
VietNamNet Bridge – Foreign contractors will face stricter scrutiny in the coming times as authorities aim to limit delays in a range of projects.
Greece won big breathing space with long-frozen eurozone loans to restart from December and a first clear admission that a chunk of the country's debt burden will need to be written off down the line.
The State Bank of Vietnam has been making every effort to push up lending. However, commercial banks believe that the credit growth rate would be no more than five percent by the end of the year.
VietNamNet Bridge - After many bank officials were prosecuted for loans related to An Khang, a seafood processing company in Tra Noc Industrial Zone 2, Can Tho city, this firm’s director has also been prosecuted.