Moody's positive rating outlook to Vietnam
New York, June 19 (VNA) -- The world's leading credit rating agency, Moody's, has changed the outlook from stable to positive for Viet Nam's B1 foreign currency country ceiling for bonds and notes, as well as the B3 foreign currency country ceiling for bank deposits.
The U.S-based agency said the rating change is resulted from an improved external payments position, political and economic stability, and a credible commitment by the Vietnamese government to advance structural reforms beyond a point that was previously considered politically acceptable.
Viet Nam has preserved macroeconomic stability and has protected the position of external payments despite downward pressures from global economic and commodity price developments last year. Moreover, its successful restructuring of all major external debt arrears also removes uncertainty in the external payments position, according to a press release by Moody's Investors Service on June 17.
Moody's pointed out that evidence of Viet Nam's renewed commitment to economic reforms is seen through the ratification of its bilatral trade agreement with the U.S., as well as the implementation of its structural reform programmes supported by the World Bank (WB) and the International Monetary Fund (IMF).--Enditem
