Economics
Vietnam’s Premier Orders List of Weak Banks to Be Public
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Vietnam’s Prime Minister Nguyen Tan Dung ordered a public list of weak banks and details of lenders’ non-performing loans as the government seeks to tackle bad debt that’s undermining the banking system and hurting businesses.
The central bank is drafting detailed measures to check bad debt, Nguyen Thi Hong, head of monetary policy at the State Bank of Vietnam, said at a briefing in Hanoi yesterday. The monetary authority needs to “quickly restructure banks’ debt, reduce bad debt by comprehensive measures and restructure weak banks” to minimize any potential risks to the system, according to the order posted on the government website yesterday.