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How Circular 03 on debt rescheduling and rates exemption affect to Vietnamese banks 18:20 | 06/05/2021
Vietnamâs central bank has recently extended the roadmap for commercial banksâ debt rescheduling and provision in a bid to support vulnerable customers hit by the pandemic. Nguyen Thi Phuong Thanh, financial analyst at VNDIRECT, wrote about how loosening the schedule would support banks to retain earnings growth and assure capital safety.
On April 2, the State Bank of Vietnam (SBV) officially promulgated Circular No.03/2021/TT-NHNN, announcing additional conditions for debt restructuring and extending the roadmap for restructuring debts provisions until 2023. Specifically, the SBV enables credit institutions to reschedule debt repayment terms for debts incurring repayment obligations from January 23, 2021 to the end of this year.
Growth Without Economic Growth
Economic growth is closely linked to increases in production, consumption and resource use and has detrimental effects on the natural environment and human health. It is unlikely that a long-lasting, absolute decoupling of economic growth from environmental pressures and impacts can be achieved at the global scale; therefore, societies need to rethink what is meant by growth and progress and their meaning for global sustainability.
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Key messages
The ongoing ‘Great Acceleration’ [1] in loss of biodiversity, climate change, pollution and loss of natural capital is tightly coupled to economic activities and economic growth.