High Financing Costs: Vietnam Shelves Plan for US Dollar Sovereign Bond Issuance

Ngo Van Tuan, an official from Vietnam's Ministry of Finance, said at a National Assembly meeting in Hanoi on Thursday that now is not the appropriate time to issue international bonds, because disruptions in global fuel supply are further pushing up inflationary pressure. While waiting for more suitable conditions to emerge, the Ministry of Finance will continue to maintain active communication with international financial institutions, investors, and credit rating agencies. He added that although there is still market demand for the bonds, the Ministry of Finance must also carefully consider financing costs while ensuring the safety of the national financial system.