Today: 20/03/2023 16:47:54 (GMT+7)

Vietnam’s central bank extends debt restructuring scope

The State Bank of Vietnam has extended the debt restructuring period for commercial banks in order to support their customers affected by the Covid-19 pandemic.

Under an amended circular issued on September 7, the scope of debts subject to restructuring will included those incurring between June 10, 2020, and August 1, 2021, in addition to those incurring before June 10, 2020.

Vietnam’s central bank, extends debt, restructuring scope, Covid-19 pandemic, State Bank of Vietnam,  commercial banks

Debt restructing is expected to help enterprises overcome the impacts of Covid-19.

The restructuring measures include interest and fee exemptions and reductions as well as repayment due date extensions.

The scope of restructuring on the obligations to repay the loan principal and/or the interest will be extended to June 30, 2022, instead of December 31, 2021, as originally stipulated.

Commercial banks will also have another six months, until June 30, 2022, to carry out the restructuring.

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Source: NDO

Vietnam’s central bank, extends debt, restructuring scope, Covid-19 pandemic, State Bank of Vietnam, commercial banks
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