User:Klto/Vietnam and the International Monetary Fund

As of 2023, Vietnam has not needed to borrow from the International Monetary Fund since 1995. It had borrowed in 1993 and additional loans in 1994 before Vietnam started to pay some back every year until they paid it all back in 2012. They had borrowed money from the IMF to alleviate poverty and its economy after being affected by war. After 2012, its status with the IMF is no purchases and no loans. Regarding its quota contributions, it still holds 1153.1 million SDR in the organization.

According to the IMF, Vietnam was not severely impacted by the COVID-19 pandemic, additionally, it did not need to take any loans out from the IMF. The IMF also assessed that Vietnam did not experience any population decline but instead saw population growth, along with a stabilizing economy. Despite the disruption that the pandemic has caused, Vietnam's not on the IMF's concern list.

Vietnam receives recommendations from the IMF to improve its economy on a '12-month consultation cycle'. The IMF also makes yearly assessments on whether the IMF should intervene or not which it seems like they would like to. But the IMF has been involved with some projects and provided technical assistance to Vietnam. Technical assistance programs target different aspects of Vietnam's economy financially.

Foreign Direct Investment (FDI) has helped Vietnam regarding infrastructure. There has been a total of 7,058 licensed projects involving foreign direct investment which has bought in capital over the years. It has impacted Vietnam's economy and helped them turn things around. Similarly to some Asian countries, FDI has helped bring in revenue from foreign investors.