State Bank extends Circular 02 on debt extension for another 6 months

On the morning of June 19, 2024, the State Bank of Vietnam (SBV) held an online industry-wide conference on solutions to boost credit growth for 2024.

On June 18, 2024, the State Bank issued Circular 06 extending the implementation period of the policy in Circular 02 on debt restructuring, keeping the debt group unchanged until December 31, 2024. Compared to before, Circular 02 was extended by the State Bank for another 6 months.

State Bank of Vietnam extends Circular 02 on debt deferral for another 6 months (Photo TL)

In addition, according to statistics, the credit growth rate has gradually improved month by month. The credit sales supplied to the economy in the first 6 months of 2024 are the highest compared to the same period in the last 3 years. Credit growth up to June 14, 2024 increased by 3.79% compared to the end of 2023.

However, credit growth rates are also divergent between localities. Some credit institutions have low credit growth, even negative growth. This is a sign that the overall demand for domestic credit has not yet recovered strongly. Many manufacturing and service sectors are still facing certain difficulties.

The State Bank of Vietnam said it will proactively manage credit growth to help control inflation, stabilize the macro-economy, and support economic growth. The State Bank of Vietnam will also continue to direct credit institutions to grow credit safely and effectively, promptly meeting the capital needs of the economy. Credit will be directed to production and business sectors, priority sectors, and growth drivers.

Finally, the State Bank also closely monitors the implementation of Circular 06/2024/TT-NHNN amending and supplementing Circular 02/2023/TT-NHNN on restructuring debt repayment terms and maintaining debt groups.

Source: https://www.congluan.vn/nhnn-gia-han-thong-tu-02-ve-gian-no-them-6-thang-post299955.html