By the end of 2023, Vietnam’s foreign debt stood at approximately 960 trillion VND (equivalent to 40 billion USD, with an average exchange rate of 1 USD = 24,000 VND), a decrease of around 14 trillion VND (about 580 million USD) compared to the end of 2022.
In the debt structure, Japan remains the largest bilateral creditor with over 247 trillion VND (around 10.3 billion USD), followed by South Korea (29.5 trillion VND, approximately 1.2 billion USD), France (27 trillion VND, around 1.1 billion USD), and Germany (13.5 trillion VND, around 560 million USD).
As for multilateral debt, the World Bank (WB) is the leading creditor with nearly 347 trillion VND (about 14.5 billion USD), followed by the Asian Development Bank (ADB) with 183 trillion VND (around 7.6 billion USD).
The debt structure has shifted positively, with foreign debt decreasing from 38% of total government debt in 2019 to 28% in 2023, while domestic debt now dominates at 72%, mainly in the form of long-term government bonds.
In 2023, the government repaid 340 trillion VND (about 14.2 billion USD) in debt, including 241 trillion VND (around 10 billion USD) for principal repayment and 100 trillion VND (around 4.2 billion USD) for interest.
To ensure national financial security, Vietnam continues to reduce foreign borrowing to mitigate exchange rate risks, while also enhancing the effectiveness of loan utilization, especially ODA funding, by reviewing legal regulations and improving project implementation processes.
Source: MoF
