National Committee for financial assessment program established

The Committee will be headed by Deputy PM Vu Van Ninh. Other members include the Governor of State Bank of Viet Nam and Deputy Ministers of Finance, Planning and Investment, Construction, Justice, leaders of the Government Office and National Financial Supervisory Commission.

The Steering Committee is responsible for assisting the Prime Minister in directing and settling important works relevant to the program.

FSAP is a joint program launched in 1999 by the International Monetary Fund and the World Bank in the wake of the Asian financial crisis.

The program brings together Bank and Fund expertise to help countries reduce the likelihood and severity of financial sector crises. So far 151 countries and territories have benefited from it.

It also provides a comprehensive framework through which assessors and authorities in participating countries can identify financial system vulnerabilities and develop appropriate policy responses./.

By Hải Minh