Vietnam borrows more than $530 million from international partners

The government signed three credit agreements with the Japanese government in July, totaling $434.45 million.

The loans total JPY50 billion ($363 million) and will be used for post-COVID socioeconomic development, recovery, and infrastructure development in the provinces of Binh Duong and Lam Dong.

With the three new loan contracts, Japan is still Vietnam's biggest bilateral donor, giving a total of JPY52,577 billion, which is equivalent to $23 billion.

The entire debt payback of the government is about VND 210,421 billion, of which direct debt repayment is approximately VND 193,979 billion (64.3 percent of the plan), and loan repayment is approximately VND 16,442 billion (48.5 percent of the plan).

The government will have loans worth a maximum of $81.43 billion under Decision No.458/QD-TTg on approving the country's plan for borrowing and paying public debt for 2023 and the program on public debt management for the 2023–2025 period, including loans for the central budget balance of up to $78.82 billion and loan payments of $2.56 billion.

The overall debt payment for the period will be no more than $47.74 billion, consisting of $42.04 billion in direct debt payments and $5.7 billion in on-lending debt payments.

Source: VGP