Viet Nam to curb credit growth to battle inflation

Monday, May 5, 2008
Viet Nam, where annual inflation rates have been in double digit figures for six consecutive months, is stepping up efforts to rein in price pressures by limiting loans to stock and property investors and consumers, the central bank said.
"Strict control will be applied to monitor credit growth as well as credit quality and measures to curb loans to stock trading, real estate investment and consumer finance will continue to ensure the safety of commercial banks," Nguyen Van Giau, the governor of the central bank, said in a statement seen on Monday.
Giau said credit grew in the first four months of 2008 by 14.73% from the end of 2007. In the same period of 2007 it grew 9.79%. The government wants to limit credit growth this year to 30%. (Reuters)