Pham Duc An New Central Bank Head in Vietnam

0:00It's April 8th. Welcome to Global News Today, powered by AI. I'm Cory with the story. Vietnam's parliament just greenlit FOM.can as the new head of the central bank for a five year stint. He's a seasoned commercial banker and a card-carrying member of the ruling Communist Party stepping in during a routine leadership swap. This move follows the party's big Congress back in January and lines up with Tuesday's pick of Le Min Hung as the fresh prime minister. The central bank governor sits right in the government line up, keeping things tied tight to the top. Folks are watching how this plays out for the bank's main gig, taming inflation first, then propping up growth. They've leaned hard on credit growth caps lately, jacking them to 20% last year before dialing back to 15% this year to dodge. Bubble risks. The outgoing boss, during her run, stressed paring growth with stability and not chasing quick wins at the expense of the big picture. He just landed a new spot as deputy head of parliament on Monday.

1:01As global headwinds, like energy squeezes hit central banks everywhere, and's got his work cut out to keep Vietnam's economy humming steady.