IMF Staff Completes 2024 Article IV Mission to Lao P.D.R.

IMF News, May 29, 2024

Source details

IMF delegation led by Mr. Alasdair Scott, Mission Chief for Lao P.D.R.
Location and timing: discussions in Vientiane from May 16 to 29, 2024.
Press Release No. 24/189.
The team held meetings with senior officials from the Bank of the Lao P.D.R., Ministry of Finance, and other government agencies, and with private sector representatives.
End-of-Mission press releases convey preliminary findings of IMF staff teams; these views are those of IMF staff and do not necessarily represent the views of the IMF’s Executive Board. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.

Growth: “Notwithstanding solid growth this year, supported by the tourism and resources sectors, the economic situation remains very challenging.”
Public finances and debt: “Despite fiscal consolidation, public debt remains elevated and government financing needs will increase.”
Monetary and price developments: “Exchange rate depreciation continues and high inflation persists.”
Policy actions noted: “The authorities’ reforms to bolster revenues are welcome, as are the initial steps to tighten monetary policy and improve monetary management, and plans to strengthen the financial sector.”

The mission encourages the authorities to pursue additional:
- fiscal policies to stabilize the macroeconomic situation;
- monetary policies to stabilize the macroeconomic situation;
- financial policies to stabilize the macroeconomic situation.
The IMF “stands ready to provide policy advice and technical assistance.”

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IMF Press Release No. 24/189 — May 29, 2024.