Loans pick up "modest" in Vietnam this year, the state should increase slightly faster than previously expected, the International Monetary Fund (IMF) said.
IMF delegation to visit Vietnam, August 9 issued a statement that it is not expected to cut interest rates in the short term.
The Fund expects economic growth of 5.3% in 2013, compared with April estimate of 5.2%. International Monetary Fund (IMF) has put the pace of 2012, was 5.2%, while the government said it was 5.03%.
The IMF said credit growth for this year should be 12.4% and 8.7%, compared to 2012. It is estimated that 12%, slightly above the central bank's target.
"Credit growth has picked up moderately in real terms, mostly concentrated in the export-oriented agricultural sector and," IMF said.
The central bank has reduced the interest rate caps, three times this year to support the business, while simplifying loans to help control inflation.
"Directors encouraged State Bank of Vietnam (SBV) is still focused on achieving low and stable inflation, supporting the exchange rate anchor, and added international reserves, International Monetary Fund (IMF) said in a statement." "In the short term, they look to a small range of further rate cuts, which could put SBV risk response inflation-fighting credibility. "
Some economists believe that this year Vietnam has its slowest growth in 14 years of the year.
For the first two quarters of 2013, the government annual economic growth of 4.9% and 5%.



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