The International Monetary Fund (IMF) in its 2004 economic report said that Vietnam has continuously attained high economic growth over many years due to cautious macro-economic management and greater efforts to integrate globally.
The report read that Vietnam has favourable conditions to continue reforms in key economic sectors including the state owned commercial bank system and state owned enterprises, improvement of investment environment in private economic sector, enhance state management and transparency in making policies.
The IMF emphasised that the IMF’s leaders highly appreciated efforts of the government in rein in the pressure of inflation compounded by government worker salary hikes. The balance of payments is still strong, exports quickly grew and investment inflows to Vietnam are increasing.
The IMF encouraged Vietnam to be cautious of financial management and flexible in managing forex rates and also to develop financial markets and the private sector.