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.
Vietnam and the International Monetary Fund financial support was not reached until October 1993 and codified in a full agreement a year after that. So far they have taken about two ECF type loans, one on April 13, 2001, which estimated 290 SDR million, and the other on November 11, 1994, which had reached about 145 SDR million. In 1998, Vietnam was in slow recovery of its economy after the Southeast Asia Economic Crisis. As a member of ASEAN, their best solution was to heavily rely on loans from the IMF. In 1999, IMF warned that the federal direct investment into Vietnam was too concentrated in