Vietnam probes central bank’s handling of credit growth: media

VIETNAM’S government inspectorate is launching an investigation into the central bank’s handling of credit growth in 2022 and 2023, the news website VnExpress reported, without saying where it got the information.

The probe comes at the request of Deputy Prime Minister Le Minh Khai, VnExpress said. Khai seeks to improve the State Bank’s timely and efficient management of the nation’s credit growth, the report said.

Vietnam’s loan growth was at 7.39 per cent at the end of October versus last year as the government looks to boost the export-dependent economy hurt by the global economic slowdown. The government’s 2023 credit growth goal is 14 per cent to 15 per cent.

Khai directed inspectors to update Prime Minister Pham Minh Chinh on the probe this month and submit a report in January, VnExpress said. BLOOMBERG