On October 13-14, in Bangkok, Thailand , a delegation from the State Bank of Vietnam, led by Governor Pham Duc An, participated in important activities within the framework of the 2026 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WB).
According to the VNA correspondent in Bangkok, this year’s conference, held from October 12-18, brought together Finance Ministers, Central Bank Governors, and representatives from 191 member countries.
The event marks the first time in 35 years that the conference has been held again in Bangkok, demonstrating the increasingly important role of the Asian region in the global economy and financial system.
Attending the roundtable meeting between IMF Managing Director Kristalina Georgieva and the Finance Ministers and Central Bank Governors of the Association of Southeast Asian Nations (ASEAN), Governor Pham Duc An and other delegates discussed global and regional economic prospects, the impact of geopolitical fluctuations, trade, energy, and policies aimed at strengthening the resilience of economies.
The conference highlighted four key messages: the global economy continues to demonstrate resilience but its recovery is uneven; vulnerable economies face numerous challenges; the cost of government borrowing is increasing; and global public debt pressures necessitate strengthening fiscal space.
In light of these challenges, the conference emphasized the importance of maintaining macroeconomic stability, strengthening policy space, promoting structural reforms, leveraging opportunities from digital transformation and artificial intelligence (AI), and enhancing multilateral cooperation to improve resilience to shocks.
ASEAN Central Bank Governors and Finance Ministers appreciated the IMF’s role in economic monitoring, policy advice, and capacity building support for member countries; and requested the IMF to strengthen spillover effects analysis, share experiences, and provide recommendations tailored to the specific conditions of each country.
Governor Pham Duc An also emphasized the complementary nature of global and regional financial cooperation mechanisms, including the Chiang Mai Multilateralization Initiative (CMIM) and the ASEAN+3 Macroeconomic Research Office (AMRO), as well as the role of technical assistance in the fields of fintech, digital transformation, cybersecurity, and risk management.
Following discussions on the prospects and resilience of the regional economy, Governor Pham Duc An attended the 57th Joint Meeting of the Southeast Asian Group at the IMF and World Bank (SEAVG). The program focused on reforming the operations of the two organizations and improving the effectiveness of support for member countries.
The IMF focuses on macroeconomic monitoring, policy advice, technical assistance, and governance reforms, as well as quotas; while the World Bank prioritizes resource mobilization, promoting private investment, infrastructure development, digital transformation, and sustainable growth. Vietnam’s participation contributes to strengthening its voice in multilateral cooperation and consolidating its relationship with the IMF and the World Bank.
In a meeting with Mr. Krishna Srinivasan, Director of the Asia-Pacific region of the IMF, Governor Pham Duc An discussed the economic outlook for the world , the region, and Vietnam, as well as the challenges in policy implementation.
Governor Pham Duc An affirmed that the State Bank of Vietnam continues to proactively and flexibly manage monetary policy, contributing to controlling inflation, stabilizing the macroeconomy, and ensuring the safety of the banking system; he also highly appreciated the cooperation of the IMF and expressed his desire to promote policy dialogue and technical support.
In the context of central bank cooperation, the meeting with Mr. Chia Der Jiun, Director General of the Monetary Authority of Singapore (MAS), was an opportunity to review current and potential areas of cooperation between the State Bank of Vietnam and MAS, especially in cross-border payment connectivity, digital banking development, application of financial technology, and promotion of financial inclusion.
Governor Pham Duc An expressed his desire to continue coordinating the implementation of initiatives within the bilateral and ASEAN frameworks, thereby enhancing the convenience of financial services for people and businesses.
Continuing the bilateral exchange activities, Governor Pham Duc An met with Mr. Emmanuel Moulin, Governor of the Central Bank of France, focusing on sharing experiences in policy management in a volatile international context, enhancing the resilience of the banking system, and managing emerging financial risks. The meeting also addressed trends in the development of digital currencies, fintech, payment infrastructure innovation, and prospects for strengthening operational cooperation between the two central banks.
Besides policy cooperation, mobilizing resources for the private sector was also a focus of the meeting with Mr. Sarvesh Suri, Vice President of the International Finance Corporation (IFC) for the Asia-Pacific region.
Governor Pham Duc An acknowledged IFC’s contributions to the development of the private sector in Vietnam and requested continued support in mobilizing long-term capital, enhancing the capacity of financial institutions, promoting investment in manufacturing, agriculture, inclusive finance, and infrastructure. He also discussed solutions to attract international capital and expand private sector participation.
Sharing the same orientation towards expanding resources for development, Governor Pham Duc An held discussions with Mr. Masato Kanda, President of the Asian Development Bank (ADB), focusing on prospects for cooperation in infrastructure development, green transformation, digital transformation, and private sector development.
During his working visit, Governor Pham Duc An also visited the Vietnamese Embassy in Thailand and discussed with Ambassador Extraordinary and Plenipotentiary Pham Viet Hung solutions to promote financial and banking cooperation between the two countries and support the operations of Thai banks in Vietnam.
Governor Pham Duc An emphasized the need to strengthen coordination and information sharing between the State Bank of Vietnam and the Embassy to promptly address difficulties, expand cooperation opportunities, and deepen Vietnam-Thailand economic and financial relations.
From multilateral policy dialogues to bilateral contacts, the agenda for the 2026 IMF-WB Annual Meeting continues to strengthen relations between the State Bank of Vietnam and international financial institutions and partner central banks, creating further opportunities for exchanging experiences, receiving technical assistance, and mobilizing resources to serve Vietnam’s socio-economic development.