Vietnam Finances

Government to Issue International Bonds: Vietnam has decided to sell bonds on international capital markets for the first time, the state-run news service reported. Vietnam has not yet set a date for the first sales of the bonds, which will include securities issued by the Finance Ministry, government-run commercial banks and other state-run companies, the Vietnam News Agency said. Hanoi must raise funds overseas to help finance economic development.

Government to Issue International Bonds: Vietnam has decided to sell bonds on international capital markets for the first time, the state-run news service reported. Vietnam has not yet set a date for the first sales of the bonds, which will include securities issued by the Finance Ministry, government-run commercial banks and other state-run companies, the Vietnam News Agency said. Hanoi must raise funds overseas to help finance economic development.

Transfer Service Weighed: Just one week after New York-based Citibank introduced a direct-funds transfer service to Vietnam for Vietnamese Americans, Bank of America said it is also interested in establishing a similar service. "We are looking at that," said Jim Mitchell, a Bank of America spokesman in San Francisco. "I know we're interested in looking into the Vietnamese market."

IMF Announces $223-Million Loan to Vietnam: The International Monetary Fund said it will make the loan to help rebuild the nation's economy. The loan represents another milestone in Vietnam's bid to become a fully integrated member of the world economy. Last week, Vietnam made itself eligible by paying off about $140 million in arrears with the IMF for previous loans, principally with the help of France and Japan. Further funding is expected from the World Bank and the Asian Development Bank.

$55-Million Loan Package Expected to Satisfy IMF: Japan and Western countries have pledged to repay Vietnam's remaining $55 million in arrears to the International Monetary Fund. The officials said Japan and France will bear the majority of the debt with equal amounts, in the form of loans and grants, of about $20 million each. The figures will be finalized when the support group meets in Washington today, they said.

$55-Million Loan Package Expected to Satisfy IMF: Japan and Western countries have pledged to repay Vietnam's remaining $55 million in arrears to the International Monetary Fund. The officials said Japan and France will bear the majority of the debt with equal amounts, in the form of loans and grants, of about $20 million each. The figures will be finalized when the support group meets in Washington today, they said.

Massive corruption involving senior government officials has cost Vietnam more than $2.1 billion since June last year, the official newspaper Lao Dong (Labor) reported Friday. Vietnam launched an anti-corruption campaign in June, 1990, to try to improve the economy and bolster the image of the ruling Communist Party.