Vietnam's financial markets have had a tumultuous year. The once high-flying stock market has fallen more than 30 percent, since January 1, and inflation has ballooned. A major investors' conference was scheduled to start Tuesday in Hanoi ,but last week, the government called it off.

越南金融市場經(jīng)歷了動蕩的一年。曾經(jīng)飛漲的股票市場下降了30%多。通貨膨脹率從今年1月1號開始上升。按計劃于星期二在河內(nèi)召開一次主要投資者會議，但是政府上星期取消了這次會議。

The Euromoney Vietnam Investment Forum was supposed to bring hundreds of the world's top money managers to Hanoi. The scheduled keynote speaker was Sandy Flockhart, head of Asia operations for HSBC - one of the world's top-five banks.

歐洲貨幣越南投資論壇應該召集幾百名世界頂尖級的貨幣管理人員到河內(nèi)。按照會議議程，會議的主要發(fā)言人是世界五大銀行之一的匯豐銀行亞洲分部的負責人弗洛克哈特。

But, HSBC spokeswoman To Quynh says, last Thursday, HSBC got a call saying Flockhart would have to reschedule.

但是，匯豐銀行的發(fā)言人瓊說，匯豐銀行上星期四接到電話被告知弗洛克哈特需要重新安排時間。

Quynh says the government asked Euromoney, the conference's organizer, to postpone it until September.

瓊說：“越南政府要求會議的組織者‘歐洲貨幣’把會議推遲到9月舉行。”

The government said it was worried about "a combination of pressing macro and micro-economic concerns." Vietnam's stock market is the worst performer in Asia this year.

越南政府說，越南政府擔心“緊迫的宏觀和微觀經(jīng)濟的綜合憂慮”。越南今年的股票市場是亞洲國家中最不景氣的。

But investors criticized the decision, saying the government had missed an opportunity to reassure investors and ask for advice. Le Dang Doanh is an outspoken Vietnamese economist and a former advisor to the prime minister.

但是，投資者批評越南政府的這一決定，說越南政府錯過了一次安定投資者和獲得建議的機會。直言不諱的越南經(jīng)濟學家、越南總理的前顧問多恩說：

Doanh says the more difficult the situation is, the more important it is to have an open dialogue with investors, to calm their suspicions and concerns.

“越南的處境越困難，就越要與投資者們進行一次公開談話，以消除他們的疑慮和擔憂�！�

Vietnamese officials have gotten used to reporting good news. The country's economy has grown more than seven percent a year since 2001.

越南官員已經(jīng)習慣于一些正面消息的報導。從2001年以來，越南每年的經(jīng)濟增長率達到7%以上。

After Vietnam joined the World Trade Organization last year, foreign investment flooded in - topping $20 billion last year.

在去年加入了世界貿(mào)易組織后，越南吸引了大量外國投資。越南去年的外來投資金額創(chuàng)下最高記錄，達到200億美元。

But the influx of dollars created upward pressure on the exchange rate of the Vietnamese dong, which could have hurt exports. To keep the dong from rising, Vietnam's State Bank bought dollars and that contributed to inflation. Benedict Bingham, the International Monetary Fund's representative in Hanoi, explains.

但是，美元進入越南給越南盾匯率的上升造成壓力，越南盾的匯率上升將影響越南的出口貿(mào)易。為了防止越南盾的升值，越南央行購進美元，這一措施導致通貨膨脹。

"That left the banking system with an excess of dong. And, it was that surplus of dong liquidity in the first half of last year that generated the rise in bank credit, and that rise in bank credit contributed to the increase in inflationary pressure," said Bingham.

國際貨幣基金組織駐河內(nèi)的代表賓厄姆解釋說：“這使越南銀行系統(tǒng)持有過多的越南盾。而且，去年上半年過多的越南盾流通導致了銀行貸款的增加，銀行貸款的增加導致了通貨膨脹壓力的增加。”

Meanwhile, the dollar was falling, making it even harder to keep the dong from rising. Prices for the commodities Vietnam imports were rising, too.

[1] [2] 下一頁