The move aims to help the country's banking sector resolve bad debts that need a debt market and qualified investors.
Vietnam’s first debt trading platform is scheduled to become operational on October 15, according to Nguyen Trong Du, deputy chief inspector of the Banking Inspection and Supervision Agency under the State Bank of Vietnam.
The Covid-19 pandemic, however, has significantly impacted VAMC’s capabilities in recouping debts. This year, the VAMC and credit institutions resolved over VND46 trillion (US$2 billion) of bad debts and recouped over VND14 trillion (US$607 million) of debts from guaranteed bonds.
Summary content from
"Tin tức 1" shows summary content only. Please view full content from Hanoi Times at: http://hanoitimes.vn/vietnam-first-debt-trading-platform-to-start-operation-on-october-15-318989.html