A Plan to Repay Debt: Vietnam has...
A Plan to Repay Debt: Vietnam has agreed to make a fresh attempt to repay long-outstanding debts of about $120 million to the International Monetary Fund as part of its campaign to rebuild its international image and attract foreign aid and investment.
The country urgently needs foreign economic support and is launching a diplomatic offensive to coincide with its plans to withdraw troops from Cambodia. The withdrawal should end a U.S.-led international trade and aid embargo.
Repayment of the $120 million was discussed in February when IMF officials visited Hanoi. It is believed that an agreement was reached for Vietnam to organize repayment of $40 million to $50 million, after which the IMF would help arrange bank loans to repay the rest.
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