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Vietnam : VND30 trillion of bad debt awaits VAMC.

Chief inspector of the central bank, Nguyen Huu Nghia, said in Hanoi on 28 May 2014 that buying bad debt from credit institutions had been slow in the past time.

The central bank however, is taking measures to accelerate bad debt buying. For instance, credit institutions have been told to review bad debt and prepare plans to sell it to the debt trading company in 2014.

VAMC is anticipated to purchase bad debt in a quicker pace after it and inspectors of the central bank have met representatives of banks to classify debt and intends to sell debt every month.

Nghia said, With such measures of the central bank and credit institutions plans to sell bad debt, we believe that VAMC s goal to buy VND70-100 trillion worth of bad debt is obtainable.

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Publication:Mena Report
Date:Jun 2, 2014
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