Focusing on Economic Restructuring and Inclusive Growth The one-day mid-year Consultative Group (CG) meeting for Vietnam was held on June 9, 2010 in Rach Gia City, Kien Giang province. At the meeting, development partners provided inputs to Vietnam’s 2011-2020 Social Economic Development Strategy (SEDS) and the 2011-2015 Social Economic Development Plan (SEDP). Development partners expressed their continued supports for Vietnam and their expectations that Vietnam will deepen its ongoing reforms to ensure that it completes the unfinished low-income agenda, and moves firmly into middle-income status. 10-year SEDS and 5-year SEDP Prime Minister Nguyen Tan Dung briefed the guiding principles for the Social Economic Development Strategy and the five-year Social Economic Development Plan, including: “Rapid development in close combination with sustainable development, with the latter being a cross-cutting requirement for the entire strategy; synchronous and appropriate … [Read more...] about Focusing on Economic Restructuring and Inclusive Growth
Inclusive growth imf
For decades, GDP was the measure of all things. Many economists argue that this is no longer the case. Is our love affair with GDP coming to an end? If you were following this year’s Annual Meeting in Davos, you’d be forgiven for thinking that this is indeed the case. In three separate sessions, two giants of the financial world and one leading academic were all in agreement: gross domestic product – the estimate of the total value of goods and services a country produces – is up for review. Nobel Prize winning economist Joseph Stiglitz, IMF head Christine Lagarde and MIT professor Erik Brynjolfsson all said GDP is a poor indicator of progress, and argued for a change to the way we measure economic and social development. “We have to go back to GDP, the calculation of productivity, the value of things – in order to assess, and probably change, the way we look at the economy,” said Lagarde. As the business landscape reinvents itself, … [Read more...] about Beyond GDP – is it time to rethink the way we measure growth?
Receiving IMF Director General Christine Lagarde in Da Nang city on November 10, Quang said that Vietnam is persistent in maintaining macro-economic stability in line with fostering economic growth and speeding up economic restructuring.In the time to come, Vietnam will have strong reforms to meet international integration requirements and increase the quality of growth, he shared.The President asked the IMF to strengthen technical assistance for Vietnam in sustainable budget, monetary and foreign exchange management, macro-economic statistics, and provide support for Vietnam in personnel training in finance and banking.Christine Lagarde pledged to continue helping Vietnam maintain its macro-economic stability and boost sustainable and inclusive growth.She spoke of the country’s efforts in the APEC Year 2017 to, together with other APEC economies, put forward a lot of initiatives on business facilitation, human resources improvement, development of the digital economy and global … [Read more...] about State leader receives IMF Director General
State President Tran Dai Quang (R) receives Managing Director of the International Monetary Fund Christine Lagarde, Da Nang City, November 10, 2017 - Photo: VNA The State leader made that statement at his reception for Managing Director (MD) of the IMF Christine Lagarde on November 10 in Da Nang City on the sidelines of the ongoing APEC Economic Leaders' Week.At the meeting, Mr. Quang announced Viet Nam’s achievements in socio-economic development in 2017, affirming that the nation consistently stabilizes the macro-economy in line with enhancing economic growth, restructuring economy, and renewing development model. Viet Nam will make drastic changes to meet demands for intensive international integration and improve growth quality, he added. Ms. Christine Lagarde committed to supporting Viet Nam to stabilize the macro-economy and promote sustainable and inclusive growth. She highly … [Read more...] about State President receives IMF Managing Director, AIIB President
Arab spring countries face rising social tensions that could thwart an early economic recovery from over two years of political turmoil that has worsened fiscal pressures and threatens macroeconomic stability, a senior IMF official said on Saturday.Masood Ahmed, International Monetary Fund (IMF) Director for the Middle East and North Africa, said oil importers Morocco, Tunisia, Egypt and Jordan faced the double shocks of high energy and food import bills and the impact of a global economic downturn along with growing popular disaffection since the wave of Arab revolts over two years ago."The big challenge this year is to manage the expectation of an increasingly impatient population to undertake the measures that will stabilize the economy and would begin to lay the foundations of an economic transformation that would generate more job creating and inclusive growth," Ahmed said."Those political transitions are turning to be more prolonged and in some cases more contentious and … [Read more...] about Arab spring nations face delayed economic recovery: IMF