Deputy PM receives General Manager of Bank for International Settlements

Deputy Prime Minister Le Minh Khai received General Manager of the Bank for International Settlements (BIS) Agustin Carstens in Hanoi on September 22.

At the reception, Khai highly appreciated BIS’s innovative activities through the establishment of innovation hubs with significant, effective projects.

He said the State Bank of Vietnam (SBV) has been actively participating in projects of the BIS Innovation Hub which helps improve the efficiency of state management and supervision of high-tech financial banking operations, ensuring national and international financial and monetary stability.

Deputy PM receives General Manager of Bank for International Settlements
Deputy Prime Minister Le Minh Khai (R) receives General Manager of the Bank for International Settlements (BIS) Agustin Carstens in Hanoi (Photo: VNA)

Vietnam hopes that BIS will pay attention to and continue to deploy forums and initiatives in Vietnam to further tighten the relationship between the two sides, and help Vietnam improve the efficiency of banking system management, Khai said.

For his part, Carstens said that BIS is an international monetary and financial institution that is considered the "bank of central banks" and now has 63 members.

BIS's offer to the SBV to become its official member affirmed that BIS highly appreciated Vietnam's position, he said, adding that its members are countries that can make important contributions to the global finance and economy.

Sharing the pillars of BIS's operations, Carstens emphasised that dialogue and cooperation among members help increase trust, thereby making faster decisions related to finance and banking. As Vietnam is a new BIS member, the country’s participation in those activities is important, he stressed.

The general manager hoped that the SBV will participate more and more actively in BIS's activities.

According to the general manager, from 2020 until now, fluctuations all over the world proved the important role of central banks, especially in responding to rising inflation. This is the first time high inflation has occurred simultaneously in many countries and central banks have taken "collective actions" to respond.

He highly appreciated the actions of Vietnam, particularly the SBV in fighting inflation, and ensuring the health of the Vietnamese economy.

Carstens affirmed those are the foundation for Vietnam's economy to soon return to a high growth trajectory. He said that the cooperation between BIS and the SBV in providing banking services is fruitful, including foreign exchange reserves.

Source: VNA

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