World Bank2014-12-122014-12-122014-01https://hdl.handle.net/10986/20692Vietnam has made progress to improve oversight and control over cash balances for the state budget. The current arrangement however falls short of a treasury single account (TSA), which has led to inefficiencies in the management of cash balances and higher than necessary borrowing costs. In response to this, the Government of Vietnam has embarked on reforms to adopt a TSA and strengthen overall cash management. This policy note provides a review of progress in implementing a TSA system in Vietnam, the remaining challenges and obstacles, and how to overcome these for further TSA and cash management reforms. It is the product of ongoing discussions between the World Bank and the Ministry of Finance. Part A gives background and motivation; part B provides an overview of the state treasury system in Vietnam; part C reviews the progress in establishing a TSA, including against benchmarks of international good practice, and makes recommendations for priority next steps; and part D concludes with a review of cash management functions.en-USCC BY 3.0 IGOACCESS TO BANKACCOUNTANTACCOUNTINGAGGREGATE CONTROLALLOCATIONANALYTICAL CAPACITYAPPROPRIATIONAPPROPRIATIONSASSET MANAGEMENTBALANCE SHEETBANK ACCOUNTBANK ACCOUNTSBANK BRANCHBANK BRANCHESBANK DEPOSITBANK DEPOSITSBANK PAYMENTBANKING SYSTEMBENEFICIARYBOOK ENTRYBORROWING COSTBORROWING COSTSBORROWING PLANSBUDGET ALLOCATIONSBUDGET CONTROLBUDGET DEFICITBUDGET EXECUTIONBUDGET IMPLEMENTATIONBUDGET LAWBUDGET MANAGEMENTBUDGET MANAGEMENT PROCESSBUDGET OPERATIONSBUDGETARY CONTROLBUDGETARY FUNDSBUDGETARY OPERATIONSCAPACITY BUILDINGCASH BALANCECASH BALANCESCASH BASISCASH FLOWCASH FLOWSCASH HOLDINGSCASH MANAGEMENTCASH POSITIONCASH TRANSACTIONSCENTRAL BANKCENTRAL BUDGETCENTRAL GOVERNMENTCIVIL SERVICECIVIL SERVICE PAYCLEARING HOUSECOLLATERALCOLLATERAL REQUIREMENTSCOLLECTED REVENUESCOMMERCIAL BANKCOMMERCIAL BANK BRANCHCOMMERCIAL BANKSCOST RECOVERYCOSTS OF GOVERNMENTCREDIT RISKCREDIT RISK EXPOSURECURRENCYCUSTODYDATA ENTRYDEBT ISSUANCEDEBT MANAGEMENTDEBT PAYMENTDEBT SERVICINGDEBT SERVICING COSTSDEBT STOCKDEDICATED REVENUEDELEGATION OF AUTHORITYDEPOSIT INSURANCEDEPOSITORSDEPOSITSDOMESTIC DEBTDOMESTIC DEBT SECURITIESDOMESTIC FINANCIAL ASSETSDOMESTIC SECURITYEFFICIENCY GAINSEXPENDITUREEXPENDITURESEXTERNAL FINANCEFINANCIAL ASSETFINANCIAL ASSET MANAGEMENTFINANCIAL ASSETSFINANCIAL BALANCEFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL MANAGEMENTFINANCIAL MANAGEMENT ARRANGEMENTSFINANCIAL MANAGEMENT INFORMATIONFINANCIAL MANAGEMENT INFORMATION SYSTEMFINANCIAL MANAGEMENT SYSTEMSFINANCIAL OPERATIONSFINANCIAL PERFORMANCEFINANCIAL RESOURCESFINANCIAL RISKFINANCIAL STATEMENTFINANCIAL TRANSACTIONSFISCAL DATAFISCAL MANAGEMENTFISCAL POLICIESFOREIGN CURRENCYFOREIGN TRADEGOVERNMENT ACCOUNTINGGOVERNMENT ACCOUNTSGOVERNMENT BANKGOVERNMENT DEBTGOVERNMENT DEPOSITSGOVERNMENT FINANCEGOVERNMENT FINANCE STATISTICSGOVERNMENT FINANCESGOVERNMENT INVOLVEMENTGOVERNMENT REVENUEGOVERNMENT SECURITIESHEALTH INSURANCEHEALTH INSURANCE FUNDHOLDINGIDLE CASHIMPLICIT GOVERNMENT GUARANTEESINFORMATION SYSTEMINFORMATION SYSTEMSINFORMATION TECHNOLOGYINSTITUTIONAL CAPACITYINSTRUMENTINSURANCEINTEREST COSTINTEREST INCOMEINTERNAL AUDITINTERNAL AUDIT FUNCTIONINTERNAL CONTROLINTERNAL CONTROLSINTERNATIONAL DEVELOPMENTINVESTINGINVESTMENT ACTIVITIESLIABILITYLIABILITY MANAGEMENTLIQUIDITYLIQUIDITY CONSTRAINTSLIQUIDITY PROBLEMSLOCAL GOVERNMENTMACROECONOMIC POLICIESMARKET INTEREST RATESMINISTRY OF FINANCEMONETARY FUNDMONETARY POLICIESMONETARY POLICYNATIONAL SECURITYNET BORROWINGPAYMENT PROCESSINGPAYMENT SERVICESPAYMENT SYSTEMPAYMENT SYSTEMSPAYMENT TRANSACTIONSPROMISSORY NOTEPROVINCIAL LEVELPROVISIONSPUBLICPUBLIC DEBTPUBLIC EXPENDITUREPUBLIC EXPENDITURE MANAGEMENTPUBLIC FINANCEPUBLIC FINANCE MANAGEMENTPUBLIC FINANCIAL MANAGEMENTPUBLIC SECTORPUBLIC SECTOR SPECIALISTREFORM PRIORITIESREFORM PROCESSREGULAR PAYMENTRESERVERESERVE REQUIREMENTRESERVE REQUIREMENTSRESERVESREVENUE SHARINGRISK MANAGEMENTSECONDARY MARKETSECURITIESSERVICE PROVISIONSETTLEMENTSETTLEMENT SYSTEMSOCIAL BENEFITSSOCIAL INSURANCESOCIAL INSURANCE FUNDSTATE BANKSTATE BUDGETSTATE TREASURYSTOCKSSUB-NATIONAL GOVERNMENTST-BILLSTAXTAX ADMINISTRATIONTAX COLLECTIONTAX PAYMENTSTAX SHARINGTAXPAYERSTERM DEPOSITSTOTAL DEBTTRANSACTIONTRANSACTION COSTTRANSACTION COSTSTRANSPARENCYTREASURIESTREASURYTREASURY BILLSTREASURY MANAGEMENTTREASURY REFORMSTREASURY STAFFTREASURY SYSTEMTYPES OF REVENUEVALUE PAYMENT SYSTEMVARIABLE COSTWITHDRAWAL10.1596/20692