Public debt management LAW _ _ _ _ _ _ _ _ pursuant to the Constitution of the Socialist Republic of Vietnam in 1992 was revised, some additional articles by resolution No. 51/2001/QH10;
Congress enacted the law on management of public debt.
Chapter I GENERAL PROVISIONS article 1. Scope 1. This law regulation on the management of public debt, including borrowing operations, use, loan repayment and debt management services.
2. Public debt is regulated in this law include: a) government debt;
b) Debt is the Government guarantee;
c) local Government Debt.
Article 2. The object to apply this law was applicable to the Organization, individuals are related to loan activities, use the loan, repayment and debt management.
Article 3. Explanation of terms In this law, the terms below are interpreted as follows: 1. Debt is account must repay, include the original account, the interest rate, fees and other related expenses at a time, arising from the loan of the subject loan allowed under the provisions of the law of Vietnam.
2. Government debt is the debt incurred from domestic loans, foreign countries, signed, released in the name of the State, on behalf of the Government or other loans because the Finance Ministry signed, issued, the authorization issued under the provisions of the law. Government debt does not cover debts due to the State Bank of Vietnam to release the monetary policy implementation in each period.
3. Government-guaranteed Debt is the debt of enterprises, financial institutions, credit loans in foreign countries, the Government guarantee.
4. local Government Debt is the debt due to the province's people's Committee, the central cities (hereafter referred to collectively as the provincial people's Committee) signed, release or release authorization.
5. the foreign debt of the country's total foreign debt of the Government, the Government debt guarantee, corporate debt and other loans held by lenders as a method of self, self charged under the provisions of the law of Vietnam.
6. The borrower is the process of creating the repayment obligations through the conclusion and implementation of agreements, contracts, loan agreement (hereinafter referred to as the loan agreement) or issued debt instruments.
7. The borrower is the borrower in the loan agreement or the issuing of debt instruments, are responsible for repayment to the lender under the right conditions, terms of the loan agreement or released.
8. The borrower back government loans (hereinafter referred to as the borrower) is business, financial institutions, credit the provincial people's Committee, signed the loan agreement and received the debt with lending agency to use government capital under the lending mechanism.
9. The guarantee is the Government loan guarantee. The guarantee covers both the assignee, the legal transfer of the recipient of the loan is the guarantee of approval.
10. Short term loans that are term loans under a year.
11. medium-and long-term loan is the loan term from one year and up.
12. Foreign Loans are short term loans, long term high-interest or no interest by the State, the Government, businesses and other organizations of Vietnam's foreign government loans, territories, international financial institutions, organizations and individuals.
13. official development assistance Loans (ODA) is the name of the State loans, the Government of Vietnam from the sponsor is foreign Governments, bilateral funding organizations, national organizations or intergovernmental organization has elements not refundable (incentive components) reached at least 35% for loans are bound , 25% of loans are non-binding.
14. preferential Loans are loans that have preferential conditions than commercial loans but not incentive components of ODA loan standards.
15. Commercial loans are loans under market conditions.
16. debt instruments is credit slips,, bonds, funds and other tools that give rise to the obligation to pay the debt.
17. Government bonds is the type of bonds issued by the Ministry of finance in order to mobilize funds for the State budget or raising capital for public works, specific investment projects.
18. Government-guaranteed bonds are types of bonds have a duration from a year or more, due to the release of the enterprise aims to mobilize capital for investment projects as directed by the Prime Minister and a Government guarantee.
19. local government bonds is the type of bonds have a duration from a year or more, by the provincial people's Committee to release or authorization issued to mobilize capital for investment projects.
20. The repayment is limited to the debt payment is charged, including interest, fees, terms and other related costs arising from the loan.
21. The island of the new loan to pay off debt is one or more existing debts.
22. debt restructuring is the implementation of career service aims to change the conditions, terms of existing debts without creating new debt obligations.
23. the restructuring of the debt portfolio is the professional work done to restructure debt in each category of debt, including debt conversion, island, bought and sold currency swaps, debt, interest rates and other services to reduce the repayment obligation, limiting risks. 24. Handle debt is the implementation of measures to resolve the debt when the difficulty in repayment, not repayment.
25. The Agency is the Ministry of finance lending or financial institution, credit authorized by the Ministry of Finance made the lenders back foreign capital from the Government.
26. The guarantee of the Government is the Government's commitment to the lender on the implementation of the obligation to repay in the case to repay that loan is not made or does not complete the repayment obligation.
27. the prevention of debt obligations debt obligations is not yet incurred but may arise when going on at least one of the conditions was determined in advance.
28. the loan limit is the limit of net loan amount (loan amount actually received excluding the original debt) every year.
29. the debt limit on the total national product (GDP) ceiling rates are the ratio between the outstanding balance at the time with the GDP.
Article 4. Content management on public debt 1. Building, and organizing the legal texts on the management of public debt.
2. Construction, issued safety criteria on debt, goal orientation, use of loans and public debt management in each stage; the monitoring indicators system of government debt, public debt, the country's external debt and borrowing plan, detailed annual repayment.
3. Organize the mobilization, allocation, use and public debt management loan properly the purpose, efficiency, ensure the full implementation of the obligation to pay the debt.
4. Monitor the mobilization, allocation, use, loan repayment, public debt management, financial risk management, secure debt and national financial security.
5. Evaluate the effectiveness of loan use, efficient management of public debt.
6. General, report, publish information about public debt.
7. Advocacy, policy, common law on the management of public debt.
8. Inspect, examine the implementation of the law on the management of public debt.
9. Handling violations, complaints, accusations in the implementation of the law on the management of public debt.
10. Training Organization, improving management of public debt.
11. International cooperation in the management of public debt.
Article 5. Public debt management principles 1. State managed, comprehensive public debt, from the mobilization, allocation, used the loan to repay.
2. Secure the debt within limits are approved by the authority, financial security assurance and national macro-economic balance.
3. Ensure the efficiency in the use of the loans and the loan; don't borrow short to long-term investment. Foreign commercial loans are only used for the program, the project has the ability to direct capital recovery and ensure the ability to repay.
4. The borrower is responsible to fulfill the obligation to repay the loans.
5. Publicity and transparency in the mobilization, allocation, use, loan repayment and debt management. The program, projects using loans from the Government, the local authorities have to be audited by the State Audit or audits.
6. Any debt obligations of the Government are treated equally.
Article 6. These acts prohibited in public debt management 1. Capital mobilization vires, purpose.
2. The decision to loan, loans, Government guarantee level vires, purpose, object.
3. Use of unauthorized loans, misuse and waste.
4. Taking advantage of the prerogatives, powers to expropriate, misappropriated, causing losses of loans.
5. Collusion, lack of accountability in the work of the evaluation.
6. Hinder activity monitoring, inspection, test and handle breach of the implementation of the law on the management of public debt.
7. Do not provide or offer is not sufficient, timely, accurate information about public debt under the provisions of the law.
Chapter II the DUTIES and powers of the NATIONAL ASSEMBLY, the GOVERNMENT, OTHER STATE AGENCIES and the RESPONSIBILITY of the ORGANIZATION, INDIVIDUALS in PUBLIC DEBT MANAGEMENT article 7. The duties and powers of the National Assembly 1. Deciding on debt safety norms in the plan for socio-economic development in five years, including: a) public debt compared to GDP;
b) the nation's external debt compared to GDP;
c) repay the Government compared with the State budget revenues;
d) obligation to pay the country's external debt in comparison with its total export turnover.
2. Decide on the target, the orientation, use of loans and public debt management in each of the five year period in order to ensure the safety of debt indicators.
3. The decision of the level, the structure of the loan and repay the Government annually associated with estimating the State budget.
4. Decisions undertakings for investment projects, important works from the national Government's capital.
5. Monitor the mobilization, allocation, use, loan repayment and debt management.
Article 8. The duties and powers of the Government 1. Unified State management of public debt, assigned the responsibilities of each agency and responsible for coordination between the authorities and local industry in the management of public debt.
2. The National Assembly decided the safety criteria on debt; the goal, orientation, use of loans and public debt management in each of the five year period; the total cost of borrowing and repayment, the Government annually associated with financing the State budget.
3. decision policy, specific solutions to implement the safety standards on debt provisions in clause 1 of article 7 of this Law.

4. Approval of the project of international bonds issued by the Government; decide the negotiation, signing international treaties on Government foreign borrowing.
5. inspection organizations, checking on the mobilization, allocation, use, loan repayment and debt management; the congressional report, the Standing Committee of the National Assembly on the use of loans, public debt management and the implementation of the project, important works, national program of social-economic development of other important use of government loans.
Article 9. The duties and powers of the Prime Minister 1. Approval of the loan plan, detailed annual repayment on the basis of the level, the structure of the loan and the repayment of the Government's annual Congress, decided under the provisions of paragraph 3 of article 7 of this Law, including the following principal contents: a) loan plan under the Government's domestic borrowing sources the foreign loans, and aim to use but does not include the short term loans to offset a temporary shortfall of State budget;
b) debt of the Government but do not include repayments of short-term loans to offset a temporary shortfall of State budget;
c) foreign commercial borrowing limit and foreign loan guarantee from the Government every year.
2. Approval of the medium-term debt management program for the three-year period of adjacent to materialize the goal, orientation, use of loans and public debt management decisions by Congress as prescribed in clause 2 article 7 of this law, including the following principal contents: a) balances the needs of domestic and foreign loans;
b) forecasts public debt ratio to GDP annually;
c) predicts the rate of the country's external debt to GDP annually;
d) forecasts foreign commercial borrowing limit and the guarantee of the Government's foreign loans annually;
DD) solution, the method of financing the loan;
e) source and the method of repayment;
g) debt solution, debt restructuring, debt portfolios;
h) policy, the legal text needs to enact in order to enhance effective public debt management.
3. Approval of the list requires ODA funding.
4. Decide on the content of international treaties on Government foreign borrowing.
5. Approval of the project issued Government bonds to mobilize capital for investment projects in the country, the project mobilized and planned use of foreign commercial loans.
6. Approval of the project handling debt, debt restructuring, debt portfolios.
7. Decides to allocate or loan back for programs, projects using foreign government loans.
8. The decision to grant bail to the Government.
9. Directs the inspection, checking the implementation of the law on the management of public debt.
Article 10. The duties and powers of the Ministry of finance 1. The unified Government to manage state on public debt.
2. Presiding over construction of the goal, orientation, use of loans and public debt management in each of the five year period; medium term debt management program; the monitoring indicators system of government debt, public debt, the country's external debt and borrowing plan, detailed annual repayment of the Government's authorized approval.
3. Holding the debt limit, foreign commercial borrowing limit and Government guarantees.
4. The organisation of talks, signed the agreement on foreign loans under the Government's assignment.
5. Is the official representative for the borrower for the loan on behalf of a foreign State, the Government, excluding loans by the State Bank of Vietnam is authorized to negotiate, sign; done deals on government debt.
6. The organisation of talks, signed the agreement on the Government guarantee; is the official representative for the guarantor for the Government guarantee.
7. Host project released the Government's international bond the Government approval process.
8. Host project issued Government bonds to mobilize capital for investment projects in the country, the project mobilized and planned use of foreign commercial loans the Prime Minister for approval.
9. the issuers of government bonds in the domestic and international bonds as planned or approved projects.
10. Make loans to offset a temporary shortfall of the central budget from the financial source of legitimacy in the country.
11. management of government loans, including: a) build, enacted financial management mode for the loan;
b) make allocations from Government loan resources for programs, investment projects and other targets have been approved by the authority; the Guide and the lending institution back foreign capital from the Government.
12. The evaluation recommended records issued the guarantee scheme, the Government issued bonds in the country, the international bonds guaranteed by the Government's business, financial institutions, credit to the Prime Minister's decision; make the granting and management of Government guarantees.
13. Make the repayment obligations of the Government and the obligation of the guarantor for the Government guarantee.
14. public debt portfolio management, held the debt sustainability analysis, and risk management; the proposal, the Prime Minister for approval and implementation of the project to handle debt, debt restructuring, debt portfolios.
15. debt accrued fund management.
16. Building, manages the database on public debt; General, report and publish information about public debt.
17. the Chairman, in collaboration with lending institutions and other relevant bodies determine the conditions for lending for specific programs, projects using foreign loans in accordance with the law.
18. Authorization for credit, financial institutions make the loans or loan agreement with a borrower in case The direct financial re-lend.
19. Monitoring, inspection, auditing, reviews the use of government loans or guarantees by the Government; borrowing and repayment of local authorities; management, recovery of loans under the rules of authorized loans, loan agreement.
20. In coordination with the State Bank of Vietnam in mobilizing domestic capital, ensure effective operating monetary-credit policy.
21. Engage with the Ministry of planning and investment in construction, the Prime Minister's approval required categories of funding ODA international treaties before the frame about ODA or project list agreement was signed.
22. annual or periodic as required, report on the situation by the authorized use of loans and public debt management.
Article 11. The duties and powers of the Ministry of planning and investment to 1. According to the Government's assignment, the host list building requires ODA funding.
2. According to the assigned, delegated by the Prime Minister, held mobilization, ODA coordination, chairing the negotiations, signing of international treaties framework on ODA.
3. Monitoring, assessment for the program, projects using ODA capital sources of the Government.
4. Engage with the Ministry of finance in job: a) the target building, orientation, use of loans and public debt management in each of the five year period; medium term debt management program and the loan plan, detailed annual repayments of Government;
b) construction the monitoring indicators system of government debt, public debt and external debt of the country;
c) building project of international bonds issued by the Government;
d) project issued the Central works in the country, the project mobilized and planned use of foreign commercial loans.
ODA balance) in the estimation of the annual State budget for programs and projects.
Article 12. The duties and powers of the State Bank of Vietnam 1. As assigned, delegated by the President or the Government, coordinated with the Finance Ministry and other relevant agencies to prepare content, conduct negotiations, signing of treaties with the financial institutions in international currency that the State Bank of Vietnam is representative and was the official representative of the borrower in the international treaties.
2. Evaluation of loan lending approach to foreign trade by the Government under the program, the credit limit and the commercial loans have government guarantees of financial institutions, credit.
3. Guidelines and held foreign loans registration of enterprises, financial institutions, Government credit guarantee.
4. Engage with the Ministry of finance in job: a) the target building, orientation, use of loans and public debt management in each of the five year period; medium term debt management program and the loan plan, detailed annual repayments of Government;
b) building systems monitoring targets government debt, public debt and external debt of the country;
c) construction methods of raising capital in foreign countries, the Government tied to monetary-policy operating credit.
Article 13. The duties and powers of the ministries, ministerial agencies 1. Ministries, ministerial-level agencies in the scope of its powers, duties make the governance of public debt according to assigned by the Government.
2. Approval of the project loans, bonds are Government-guaranteed loan scheme, the Government loan back by the authority before the Finance Ministry sent to the appraisal.
3. Monitoring, inspection, checking the use of loans, bonds of the subdivisions and the report, provide information on the public debt.
Article 14. The duties and powers of provincial councils 1. Approval of the loan plan, detailed annual repayments of the provincial people's Committee, including: a) loan plan of provincial people's committees according to domestic sources of loans, lending the Government's foreign loans and the purpose of use;
b) repayment plan from provincial budgets, sources withdraw from the local investment projects.
2. Decide the category the project belongs to the provincial level of investment from domestic lending to foreign government loans, loan capital in the country according to the provisions of the law on the State budget.
3. Decide on loans for investment under the provisions of the law on the State budget, project loans, and repay bonds issued by the provincial people's Committee.
4. Supervise the loans, loans, bonds, loan and repayment of the provincial people's Committee.
Article 15. The duties and powers of provincial people Committee 1. Loan planning, detailed annual repayments of the provincial people's Committee of the people's Councils at the same level for approval.

2. Build project list in provincial investment from foreign loan lending sources of loan capital, Governments in the country according to the provisions of the law on the State budget at the same level people's councils to decide.
3. construction loan plans to invest according to the provisions of the law on the State budget, project loans, bonds and repay the Council the same level decision and send the Ministry of finance, the Ministry of planning and investment to track, aggregate. The case of borrowing through bonds the bonds scheme must be the Ministry of finance approved in writing prior to implementation.
4. the celebrated release of local government bonds, loans from other legal financial sources, foreign capital lending of the Government according to the provisions of article 40 of this law.
5. test, urging the use of loans from the Government's capital issued capital, local government and the withdrawal of capital; report, provide information on the public debt.
6. Layout in provincial budget balance, source recovered from the local investment projects to ensure paying off debt when due.
Article 16. The duties and powers of the Agency, held the reception, use the loan or loan guarantee agencies, organized the reception, use the loan or loan guarantee is secured using the loan effectively, the right purpose and fulfill the relevant obligations arising from the loan agreement or the guarantee.
Article 17. The liability of the Organization, the individual decides for vay, loan guarantees, grants, evaluation and organization, the other individual involved 1. The Organization, personal lending decisions, loan guarantees, grants, evaluation and organization, the other individual involved in the scope of the task, their powers are responsible before the law on the implementation of the tasks, powers are delegated in accordance with the provisions of the law on the management of public debt.
2. in case the Organization, individuals taking advantage of the prerogatives, powers was given the violation of prohibition in the State management of public debt, then depending on the nature and extent of the violation which dealt with according to the provisions of the law.
Chapter III MANAGEMENT of GOVERNMENT DEBT Article 18. The purpose of the loan of the Government 1. Investing in social-economic development in the task of the central budget according to the provisions of the law on the State budget.
2. Offset the temporary shortage of the State budget from short term loans.
3. Restructuring debt, government debt portfolio and Government-guaranteed debt.
4. For business, credit, financial institutions, local government borrowing back under the rule of law.
5. other purposes in order to ensure the financial security of the country.
Article 19. The form of the loan of the Government 1. Government borrowing through the issuance of debt instruments and signed the loan agreement in the scope of the level, the structure of the loan, the repayment of the Government's annual Congress was decided.
2. Government loan by the local currency, foreign currency, gold or goods converted the local currency or foreign currency.
Article 20. Domestic loans 1. Domestic loans through Government-issued debt instruments and signed the loan agreement.
2. The Ministry of finance is the release of the Government's debt instruments specified in clause 1 of this article.
3. The Ministry of finance signed the loan agreement in the country according to the loan plan, detailed annual repayment of the Government from financing legal under provisions of the law on the State budget.
4. The Government detailing the release of the Government's debt instruments and the management of the Government's domestic debt.
Article 21. Foreign loans 1. Government foreign loans through the international bonds issued by the Government and loan agreement.
2. The Ministry of finance is the body of international bonds issued by the Government. The release of the Government's international bond is only done when there is enough of the following conditions: a) programs, capital projects from international bond issuance is identified as key national; the program, effective investment projects, has completed the procedure according to the provisions of the investment law and the provisions of relevant laws;
b) meet the conditions set forth in the resolutions of the Government on international bonds;
c) legal records for the release of the international bonds has been completed in accordance with the law of Vietnam and international practices;
d) condition of favorable international markets, ensuring success with reasonable costs.
3. The loans through the loan agreement are as follows: a) for ODA loans, the Ministry of planning and investment, the stadium hosted list building requires ODA funding, held negotiations, signing of international treaties framework on ODA, ODA allocations for the program, project and capital management. The Organization of the negotiations, of the specific loan agreement signed by the Ministry of Finance made. The case of the State Bank of Vietnam to be assigned government negotiations, signing of the loan agreement, the State Bank of Vietnam moved to the Ministry of finance the loan agreement was signed to the Ministry of Finance Committee;
b) for loans under conditions of ODA, the Ministry of finance negotiations, signing of the loan agreement by decision of the Government. The case of the State Bank of Vietnam to be assigned government negotiations, signing of the loan agreement, the State Bank of Vietnam moved to the Ministry of finance the loan agreement was signed to the Ministry of Finance Committee;
c The specific loan agreement) to be signed when the program, the investment project is the National Assembly, the Government, the Prime Minister allowed the use of foreign loans to make and have completed the procedure according to the provisions of the investment law and the provisions of the relevant legislation or schemes to use the loan for the other target was the level authority approval and loan agreement content was approved.
4. The signed and approved the framework agreement, the loan agreement, ODA loans specifically on behalf of the State to comply with the provisions of the law on signing, joining and implementing international treaties; for other specific loan agreements made according to the following rules: a) loan plan base, detailed annual repayment and ODA loan framework agreement has been approved by the authority, the Agency chaired the negotiations held to negotiate loan agreements with the content side of foreign loans;
b) Agency chaired negotiations at the same time ask the opinion of the relevant body, in which the opinion of the Foreign Ministry, the opinion of the evaluation process of the Prime Minister decided the signing of the loan agreement.
Government Regulation sequence, procedure of signing and approving specific loan agreement.
5. Government regulations details the management of foreign loans by the Government; management, use of ODA.
Article 22. Use of government loans 1. Government loans are used as follows: a) allocated from the domestic capital and foreign preferential loans for programs, investment projects in infrastructure, social and welfare programs, projects in other sectors do not have the ability to recover the capital directly belonging to the mission branch of the State budget according to the provisions of the law on the State budget;
b) loans back in whole or in part from foreign capital for investment projects, the program has the ability to revoke a part or the whole of the loan, including the construction of project infrastructure in line with the orientation of social-economic development of the country has been approved by the authority. The Government detailing the lending source loans of foreign Governments;
c) restructure debts, debt portfolios according to the loan plan, detailed annual repayments of government debt restructuring scheme has been approved.
2. The conditions for lending for specific projects, programs of the loan's value, the coins got debt, interest rate, repayment period, the charges made under the provisions of the Government.
3. Based on the purpose of each loan, the Finance Ministry and the Prime Minister decided to give or loan back for each program, project.
Article 23. Lending institutions, the object to be lent back to the 1. The Ministry of finance directly or authorization for credit, financial institutions make the loans back.
2. The object of the loan include: a) financial institutions, credit lenders to lend to people who use credit under the program, the credit component of the program, projects using foreign loans;
b) loan business to invest in the program, the project is likely to revoke a part or the whole of the loan;
c) provincial people's Committee of lenders to invest in economic development-society in the task of the local budget.
Article 24. Conditions of the loan back 1. Conditions of the loan back to the financial institution, credit include: a) has a program, the project is enabling the authorized use of loans and foreign lenders were approved;
b) ensure the possibility of repayment according to the financial plan be appraised under the provisions of the law;
c) where lending by foreign commercial borrowing funds from the Government to achieve safety of capital under the provisions of the Government, except the Bank of State policy.
2. Conditions of the loan back for business include: a) programs and projects consistent with the orientation of social-economic development of the country, enabling the authorized use of loans, has completed the procedure according to the provisions of the investment law and the provisions of relevant laws , was a foreign lender approval;
b) project implementation capacity, ensuring the possibility of repayment according to the financial plan be appraised under the provisions of the law;
c) where lending by foreign commercial capital of the Government must ensure a minimum of 20% of the total cost of capital is the equity. For the project, important works have focus, national urgency and has special importance for the socio-economic development of the country in which the business is not yet meet all the conditions of the equity, the prime consideration, decided to exempt this conditions in each particular case;

d) healthy financial situation, not being in the hole adjacent to the nearest three years, excluding the losses due to the implementation of the policy; at the time of the loan proposal no overdue debt with financial institutions, credit; No overdue debt relating to the loans back foreign capital from the Government and the State budget. Not enough business case three years continuous operation must have the commitment of the company's owners or parents about ensuring the ability to repay loans;
DD) make secured loan for loans under the provisions of the law.
3. the conditions of the loan back to the provincial people's Committee include: a) Are authorized to allow lending from foreign loan capital of the Government;
b) Are projects of socio-economic development in the task of the local budget has completed the procedure according to the provisions of the investment law and the provisions of relevant laws;
c) local budgets ensuring repayment.
Article 25. Program evaluators, project lending 1. For ODA loans for borrowers under the program, project: a) the lending agency case suffered a credit risk lending agencies again, assess the program's financial approach, project loans, the borrower's financial capability and evaluation results report for the Ministry of Finance before the signing of the loan agreement;
b) where lending institutions do not bear the credit risk, the Ministry of Finance made loans through lending institutions back into the base directory of the project were borrowed back from the source of the Government's foreign loans had been approved by the authority and the results of the evaluation of the financial plan of the Agency for approval of investment projects.
2. for ODA loans under the program, the credit limit: a) the Ministry of finance appraisal methodology using the loan and the repayment of the credit, financial institutions participated in the program before the signing of the loan agreement;
b) financial institutions, credit loans to the user which ultimately is responsible for project appraisal and lending objects selection match credit program agreed with the donor or lender, and assume all risk arising from the lending again.
3. for commercial loans from the Government for business lending, lending agencies again is responsible for evaluation of the financial approach back projects lenders, borrower's financial capability and evaluation results report for the Ministry of Finance before the signing of the loan agreement.
4. for commercial loans under the program, the credit limit: a) State Bank of Vietnam plans to use the appraisal of loans and repayment of the credit institution to join a program and notification of results evaluation for the Ministry of Finance before the Ministry of finance signed the loan agreement;
b) lending credit institution to which user ultimately responsible for project appraisal and lending objects selection match credit program agreed with the donor or lender, and assume all risk arising from the lending again.
5. for government loans for provincial peoples Committee of the loan, the Ministry of finance the repayment ability evaluation of provincial budget according to the provisions of the law on decentralization of the budget before the signing of the loan agreement.
6. The Agency, the organization responsible for the evaluation results evaluation in accordance with the law.
Article 26. Responsibilities of lending institutions back 1. Monitor, check the use the borrower's loan. Make notes, accounting the loans back to the borrower once again.
2. Improving the legal, records management, processing of mortgage assets and other assets by the borrower used to secure the loan.
3. Apply the necessary sanctions, measures prescribed by law to recover the loan, including the interest rate, fees, and other related expenses from the loan back in full, in a timely manner according to the conditions specified in the loan agreement, the loan authorization contract and transfer the accrued Funds pay into repayment.
4. Provide information, reports related to the implementation of the program, project loans for the Finance Ministry and the competent authorities periodically or on demand and are responsible for the accuracy, the integrity of the information, the report.
5. After you have applied the measures, the necessary resources that the borrower does not pay the whole or part of the debt, the lending institutions have a responsibility: a) repay the loan back if people instead of the lending institutions are the Ministry of finance authorized lenders under a credit risk method;
b) reports the Finance Ministry and agency program evaluation project, to take measures to handle the if lending institutions are the Ministry of finance under a loan authorization method not good credit risks.
Article 27. The responsibilities of the borrower back 1. Management, use the loan back to your purposes have been approved in the report or investment feasibility study report of the project has been approved by the authority.
2. pay the debt in full, in a timely manner according to the conditions specified in the loan agreement. The case does not fulfill the obligation of repayment must then approve the measures, sanctions that left lending institutions apply to debt collection and responsibility pursuant to the law if not to pay the debt.
3. Comply with the provisions of the law on mortgage and loan guarantee measures.
4. Provide information, reports related to the implementation of the program, project loans for the Ministry of finance, lending institutions, competent authorities periodically or on demand and are responsible for the accuracy, the integrity of the information, the report.
Article 28. Lenders to restructure debt category 1. The lenders to restructure debt category must meet the following conditions: a) new loan does not exceed the value of the debts to be restructured;
b) minimize risk or repayment obligations than before the debt portfolio was restructured;
c foreign currency loans) not to restructure loans in Vietnam.
2. The Ministry of Finance made the career service restructuring debt portfolios according to the loan plan, detailed annual repayments of Government or the approved scheme.
Article 29. The cumulative fund to repay 1. The cumulative repayment Fund is the Fund in the State budget, the Government established the Ministry of finance and management aims to ensure the solvency of debt obligations of the loans of the loan or debt obligation of the State budget arising from the terms of guarantee by the Government.
2. the Fund's accumulated earnings to repay include: a) the recovery of debt from loans on lending of the Government;
b Government guarantee Fee);
c) recovery of the advance from the cumulative Fund capital repayment in accordance with the Government;
d capital advance interest rate and the interest rate) from restructuring debt, government debt portfolios;
VND) deposit interest rates or mandated to manage the Fund's cumulative capital repayment;
e) other legal revenues.
3. content of the cumulative repayment Fund expenditure includes: a) repaid the State budget the repayments of foreign loans the Government loans on lending;
b) Responders charged instead of the guarantee in case the guarantee not to pay debt;
c) Application which to implement debt restructuring, debt portfolio of Government and Government-guaranteed debt to reduce loan costs;
d other capital) to improve the performance of the Fund accumulated debt under the Government;
DD) professional Fund management fee accumulating according to the repayment of government regulations.
4. capital temporarily idle of the cumulative repayment Fund must be conserved, developed through the deposit services and asset management of financial institutions, reputable credit in the country.
5. Government regulations detail the cumulative repayment Fund management.
Article 30. Repaying the Government 1. The Government deployed the State budget to fulfill the obligation to repay the Government directly.
2. The payment of the account, the interest rate, fees, and other related costs arising from loans made by the Ministry of finance from State budget according to the loan plan, detailed annual repayment of the Government has been approved.
3. With respect to the loans from the foreign capital from the Government, the lending agency back pay to fund the repayment of accrued under the guidance of the Ministry of finance.
Chapter IV ADMINISTRATION of GUARANTEES the GOVERNMENT article 31. Agency and Government guarantee management 1. The Ministry of finance is the Government guarantee and management for loans or bonds, international bonds.
2. The Ministry of Finance building, the Government issued regulations on the management and Government guarantees.
Article 32. The object is granted bail the Government 1. The business programme, projects under the provisions of article 33 of this law.
2. The State policy banks and financial institutions, credit-credit program has the goal of the State.
Article 33. The program, the project is considered a Government guarantee level 1. The program, the investment project is the National Assembly or the prime investment policy decisions.
2. The program, high technology application projects, projects in the fields of energy, mining, mineral processing, or manufacture goods, provide export services consistent with the orientation of social-economic development of the country.
3. The program, projects in the field, was promoted to the State under the provisions of the investment law and the provisions of relevant laws.
4. The program, the project is funded by commercial loans tied to ODA in the form of a mixed credit.
Article 34. The conditions to be granted a Government guarantee 1. The conditions to be granted a Government guarantee for programs and projects include: a) Has completed the procedure according to the provisions of the investment law and the provisions of relevant laws;
b) loan scheme, Have issued bonds, loan projects, repayments are the Ministry of finance evaluation and be the Prime Minister for approval.
2. The conditions to be granted a Government guarantee for the loan, bond issuers includes:

a) case is business investment projects implementation must ensure a minimum of 20% of the total cost of capital is the equity. For financial institutions, credit to reach the safety of capital under the provisions of the Government, except the Bank of State policy;
b) healthy financial situation, not being in the hole adjacent to the nearest three years, excluding the losses due to the implementation of the policy; at the time of grant proposals guarantee no overdue debt with financial institutions, credit; No overdue debt relating to the guarantee, the loan back foreign capital from the Government and the State budget. The case of enterprises, financial institutions, credit not enough three years continuous operation must have the commitment of the company's owners or parents about ensuring the ability of repayment for the loan guarantee;
c) approved the patent under the provisions of the guarantee agency;
d) where international bond issuance must have the confidence coefficient is internationally accepted but do not lower the coefficient of national trust;
DD) do not violate the law on the management of public debt within three years the closest adjacent until grant proposals guarantee;
e) projects, key projects, major projects are urgent and special importance for socio-economic development of the country, if the business has not yet meet all the conditions of the equity, the prime consideration, decided to exempt this conditions in each particular case.
3. conditions to be granted a Government guarantee for the loan, the international bonds include: a) foreign loans through the loan agreement must be worth the equivalent of 50 million u.s. dollars, worth of international bonds equivalent to 100 million u.s. dollars or more and in commercial loan limit the foreign loans, guarantee of the Government, excluding the loan prescribed in paragraph 4 to article 33 of this law; the minimum repayment term is ten years and the loan conditions, release is consistent with market conditions and international practices;
b) loans, domestic bonds issued in foreign currency are valued at the equivalent of 30 million us dollars or more, the minimum repayment term is five years; If using local currencies are valued at 500 billion dong Vietnam over the repayment period, a minimum of one year.
Article 35. Government guarantee management 1. Loans, international bonds guaranteed by the Government must be registered at the State Bank of Vietnam.
2. The management, tracking and checking the use of loans, issuing Government bonds as guarantees for other government loans.
3. Debt obligations arising from loans, issuing Government-guaranteed bonds are debt obligations of the Government.
Article 36. The Agency's responsibilities and guarantee supply guarantee 1. The Ministry of finance is responsible for guarantee: a) the appraisal of financial schemes, conditions of guarantee according to the recommended guarantee level record for the programme, the specific projects the Prime decisions and take responsibility for results evaluation;
b) participated in the negotiation of the conditions of the loan, the loan agreement and chaired talks about the content of the letter of guarantee;
c) test results of business activities, using foreign loans to assess the possibility of repayment of the guarantee; proposed measures, enforcement of handling in case the guarantee repayment problems the Prime Minister decide;
d) make the payment obligations of the guarantor under the guarantee agreement arise from the cumulative Fund sources of repayment in the event the person is guaranteed not to pay the debt;
DD) Government guarantee fee prescribed by law;
e) apply the necessary sanctions, measures prescribed by law to recover the debt and the costs arising from the replacement of the repayment guarantee;
g) synthesis, report the authority about the terms of the guarantee has been issued.
2. The liability of the guarantee: a) provides for the Agency to grant the guarantee documents related to evaluation;
b) fulfill the obligation of the guarantee with regard to the guarantee agency. Case of non-repayment in full, on time, they must approve the measures, sanctions that the Agency grant the guarantee applies; responsible under the provisions of the law if not paid debt;
c) provides the information required by the Agency to grant guarantees on the implementation of the program, project and ability to perform payment obligations under the loan agreement;
d) timely reporting about the risk of violating the guarantee commitments;
DD) file charges in full and on time guarantee according to the provisions of the law.
Chapter V DEBT MANAGEMENT of the LOCAL GOVERNMENT Article 37. The purpose of local government 1. Investing in social-economic development in the task of the local budget according to the provisions of the law on the State budget.
2. Investment in the project is likely to return.
Article 38. Forms of local government 1. For lenders in the country, the provincial people's Committee was only borrowing to invest according to the provisions of article 37 of this law through release, release authorization of local government bonds, loans from other legal financial sources prescribed by law.
2. for foreign loans, the provincial people's Committee does not direct foreign loans are being borrowed back from foreign loan capital from the Government to invest in social-economic development in the task of the local budget according to the provisions in point c of paragraph 2 Article 23 of this law.
Article 39. The loan conditions in the country of the provincial people Committee 1. For loans to invest in economic development-society in the task of the local budget according to the provisions of the law on the State budget must meet the following conditions: a) project has completed the procedure according to the provisions of the investment law and the provisions of relevant laws in the investment portfolio in the five-year plan was the same level people's Council decision;
b) bond release scheme, plans to use the loan, repayments were at the same level people's Council passed and approved by the Finance Ministry in writing;
c) worth loans, issuing bonds in the country are in the loan limit of local budget according to the provisions of the law on the State budget;
d) where lending foreign government loans must meet the conditions specified in paragraph 3 to article 24 and article 25 of this Law 5th clause.
2. for loans to invest in the project's likely payback locally must meet the following conditions: a) project has completed the procedure according to the provisions of the investment law and the provisions of the relevant legislation, are the competent authorities identified as likely payback;
b) issued proposals to invest in the project was the Ministry of finance evaluation and approval in writing.
3. The Government detailing the release of local government bonds.
Article 40. The loan organization 1. The provincial people's Committee organized the release of local government bonds to domestic loan through the State Treasury or authorize a financial institution, credit on the release of government regulations and signed the loan agreement from other legal financial sources prescribed by law.
2. With respect to the lending of foreign capital from the Government, provincial people's committees carried out according to the provisions of articles 23, 24 and 25 of this law.
Article 41. Use of loans of local government 1. Domestic loans of provincial people's committees to invest in economic development-society in the task of the local budget is managed, used according to the provisions of the law on the State budget.
2. Loans to invest in the project's likely payback, loans from foreign capital managed by the Government, used in accordance with the law.
Article 42. Repayment of 1. The provincial people's Committee paid in full, timely payment of the interest rate, fees, and other related costs arising from the loan of the provincial people's Committee.
2. The loan refund back from the source of the Government's foreign loans made under government regulations.
3. The source of repayment is guaranteed from the provincial budget and source recovery from the local investment projects.
Chapter VI ORGANIZATION of the INFORMATION on PUBLIC DEBT Article 43. Construction of a database on public debt 1. The Ministry of finance is the lead agency for the construction and management of unified database on public debt.
2. detailed regulations Government held information about public debt, the mechanism provided, report and publish information about public debt.
Article 44. Reports information about public debt 1. Every year or at the request of Congress, the Agency of the National Assembly, the Ministry of finance, the General Government to the congressional report, the congressional agency information about public debt, including: a) the implementation of the loan guarantee plan and annual repayment, including the number of signed loans , the number of funds, worth, value, guarantee of repayment, outstanding balance, debt rate than GDP;
b) implementation of the programme, projects using government loans and loan guarantees by the Government;
c) the situation of the loan, the repayment of the provincial people's Committee;
d) other relevant information.
2. Every year, the people's Committee of the provincial people's Council report the same level, the Finance Ministry and the competent authorities information about public debt, including: a) the situation of the loan, the repayment of the local, which has a number of signed loans, loan number, the number of actual repayment, outstanding balance;
b) implementation of the programme, the project uses the loan;
c) other relevant information.
Article 45. Agency to receive and provide information about public debt 1. The Ministry of finance is the lead agency receiving information about public debt.
2. The bodies, the organization offers information about public debt include: a) the ministries, ministerial agencies;
b) provincial people's Committee;
c) The issuers of bonds, Government-guaranteed loans;
d) lending institutions;
DD) units used loans from the Government.
Article 46. Collaboration provides information about public debt 1. The State Bank of Vietnam periodically provided to the Ministry of finance general information about loans, foreign debt, foreign commercial borrowing limit of enterprises, financial institutions, credit as specified by the Government.

2. State-owned enterprises and financial institutions, the credit of the State periodically provides The information on the financial situation of the loan, the repayment of the foreign country, as specified by the Government.
3. where necessary, the Ministry of Finance has the right to request the bodies, the relevant organizations to provide information on any loan to manage public debt.
Article 47. Public information about public debt 1. The Finance Ministry made public information about public debt.
2. Information on the public debt made public including the total outstanding balance, the domestic debt structure, the Government's foreign debt, debt guarantees by the Government, the local Government's debt, loan data reception and annual repayment, the Government debt monitoring indicators, public debt, the country's foreign debt.
3. Information on the public debt are the Ministry of Finance announced periodically in accordance with the law.
Chapter VII ENFORCEMENT PROVISIONS Article 48. Effect of this Law has effect from January 1, 2010.
Article 49. Detailing and guiding the implementation of government regulation details, guide the implementation of the article, account assigned in law; Guide to the essential content of this law in order to meet the requirements of governance.
This law was the National Assembly of the Socialist Republic of Vietnam tags XII, 5 session through June 17, 2009./.