PM reveals debt plans for 2009

Hanoi (VNA) - Vietnam plans to borrow 1.7 billion USD in official development aid and other foreign soft loans while paying off 930 million USD in foreign debt this year, the Prime Minister announced on April 9.

Prime Minister Nguyen Tan Dung also said middle and long-term foreign commercial
debt targets of 4.7 billion USD, including 1.1 billion USD for the Government.

The maximum Government guaranteed foreign loans that local businesses and credit
organisations can borrow are not more than 1.3 billion USD, while foreign loans
without Government guarantees should be around 600 million USD.

The Prime Minister asked the State Bank of Vietnam in co-ordination with
relevant authorities, to produce an assessment report on the current foreign loan
situation for businesses - particularly middle and long-term foreign direct
investment loans and short term loans for credit organisations.

The report must be submitted to the Prime Minister in the second quarter of this
year, according to the decision.-Enditem