Deputy Prime Minister Lê Minh Khái (R) receives General Manager of the Bank for International Settlements (BIS) Agustin Carstens in Hanoi. VNA Photo

 HÀ NỘI – Deputy Prime Minister Lê Minh Khái received General Manager of the Bank for International Settlements (BIS) Agustin Carstens in Hà Nội on Friday.

At the reception, Khái highly appreciated BIS’s innovative activities through the establishment of innovation hubs with significant, effective projects.

He said the State Bank of Vietnam (SBV) has been actively participating in projects of the BIS Innovation Hub which helps improve the efficiency of state management and supervision of high-tech financial banking operations, ensuring national and international financial and monetary stability.

Việt Nam hoped that BIS would pay attention to and continue to deploy forums and initiatives in the country to further tighten the relationship between the two sides, and help Việt Nam improve the efficiency of its banking system management, Khái said.

BIS is an international monetary and financial institution that is considered the "bank of central banks" and now has 63 members, according to Carstens.

BIS's offer to the SBV to become its official member affirmed that BIS highly appreciated Việt Nam's position, he said, adding that its members are countries that can make important contributions to the global finance and economy.

Sharing the pillars of BIS's operations, Carstens emphasised that dialogue and cooperation among members help increase trust, thereby making faster decisions related to finance and banking. As Việt Nam is a new BIS member, the country’s participation in those activities would be important, he stressed.

The general manager hoped that the SBV would participate more and more actively in BIS's activities.

According to the general manager, from 2020 until now, fluctuations all over the world proved the important role of central banks, especially in responding to rising inflation. This is the first time high inflation has occurred simultaneously in many countries and central banks have taken "collective actions" to respond.

He highly appreciated the actions of Việt Nam, particularly the SBV in fighting inflation, and ensuring the health of the Vietnamese economy.

Carstens affirmed those are the foundation for Việt Nam's economy to soon return to a high growth trajectory. He said that the cooperation between BIS and the SBV in providing banking services was fruitful, including foreign exchange reserves. VNA/VNS