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BULLETIN: IMF Program in Vietnam Expires; No Rating Impact Apr 04
Standard & Poors, April 2004
Abstract
SINGAPORE (Standard & Poor's) April 14, 2004--Standard & Poor's Ratings Services said the expiry of the IMF's Poverty Reduction and Growth Facility (PRGF) program with Vietnam is unlikely to have an immediate impact on the country's sovereign ratings (foreign currency BB-/Stable/B; local currency BB/Stable/B). The IMF yesterday announced the termination of its three-year PRGF program with Vietnam. The move is a result of variances over IMF's Safeguard Assessments--in particular, external audit for the central bank. Measures under the PRGF were considered by the government to be incompatible with the legal framework in Vietnam. Standard & Poor's considers the disagreement one of a technical nature, and one that will not materially affect Vietnam's solid donor support. In addition to continued multilateral...
Companies mentioned in this report are: Socialist Republic of Vietnam
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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