Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

VIETNAM - VN forex reserves predicted to top $15.8 bln  DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

VIETNAM - VN forex reserves predicted to top $15.8 bln

Post new topic   Reply to topic

Go down

VIETNAM - VN forex reserves predicted to top $15.8 bln  Empty VIETNAM - VN forex reserves predicted to top $15.8 bln

Post by lexie Thu Jan 05, 2012 3:17 pm

January 5, 2012


VN forex reserves predicted to top $15.8 bln

Vietnam’s foreign reserves this year will reach US$15.81 billion from the $12.56 billion recorded last year, forecasted JPMorgan Chase Bank in its recent report on the country’s macro-economy.

“Despite the surge, the country’s forex reserve still remains at a low rate, equal to only 1.5 months of imports,” the report stated.


If the country’s inflation cools down as predicted, the reserves will rise as local people will switch to depositing in their local currency, said the global financial services firm.


JPMorgan experts also said that Vietnam’s economy this year is likely to reach a higher level of stability than last year, and it is inflation that exerts the strongest impact on the balance of payment, rather than the trade deficit.


Vietnam is estimated to enjoy a balance of payment surplus of $1.8 billion in 2011, JPMorgan said, predicting the figure to amount to $3.25 billion this year.


“With the country’s inflation expected to decelerate, and the government prioritizing economic stabilization rather than the ‘grow at all costs’ policy, it is expected that the basic economic factors of Vietnam will be improved,” the report said.


However, the bank said bank asset quality still remains a major threat to the country’s economy, though it is not likely that the banking sector will be hit by a crisis.


In 2012, foreign direct investment (FDI) to the country is expected to reach $10.5 billion, and foreign indirect investment (FII) will rise to $500 million from negative $5.6 billion in 2011, JPMorgan predicted.






http://www.vietfinancenews.com/2012/01/vn-forex-reserves-predicted-to-top-158.html


*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie
lexie
Elite Member
Elite Member

Posts : 1812
Join date : 2011-06-24

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You can reply to topics in this forum