Vietnam and the International Monetary Fund the "import substituting and non-tradable" sectors like construction and telecommunication as opposed to investment in exportable goods and services. In 2001, Vietnam sent a letter of intent to the IMF to receive a loan to fund the Poverty Reductions and Growth Funds arrangement. In order to create a greater macroeconomic stability for Vietnam they would rely on the monetary policy while under shock scenarios as it has proven to lift off interest rates. According to IMF records, Vietnam is still paying that loan and continues their membership with the IMF. Since 2012, the Vietnamese dong closely tied to the U.S.
1965 in the Vietnam War were shot down. The operation was meant to last eight weeks, but instead lasted more than three years. Previously, North Vietnam and its allies China and the Soviet Union had indicated a willingness for negotiations leading to the neutralization of South Vietnam and the withdrawal of the U.S. The bombing resulted in a hardened and less flexible communist position. North Vietnam shut down channels it had with Canada and France for exploring negotiations. McGeorge Bundy wrote a memo to President Johnson saying: "Last night, Bob McNamara said for the first time what many others have thought for a long time