The paper describes a current and speed control of the permanent magnet synchronous motor with vector control. For a current and speed controller, the Internal Model Control (IMC) method was chosen for its good tracking capability and demands on the controllers. A short analysis of the IMC method for design of the current and speed controller has been made. The paper contains mathematical description of the IMC controller design. Simulation and experimental results of the vector controlled AC drive with interior permanent magnet synchronous motor are shown to present features of the current and speed controller.