A week after the State Bank of Vietnam issued Circular 14 on debt rescheduling to alleviate the difficulties faced by businesses due to the COVID-19 pandemic, many individual and corporate borrowers said they are still waiting to hear from banks.
A proposal to use State funds to settle commercial banks'' bad debts, as
stated in the draft plan on economic restructuring for the 2016-2020
period, has been met with a cold shoulder.
Potentially irrecoverable bank debts in HCM City now make up around 70
per cent of the total bad debts, according to the State Bank of Viet
Nam''s city branch.
