Lao People’s Democratic Republic: 2019 Article IV Consultation-Press Release; Staff Report; Statement by the Executive Director for Lao People's Democratic Republic

August 8, 2019

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Lao People’s Democratic Republic: 2019 Article IV Consultation-Press Release; Staff Report; Statement by the Executive Director for Lao People's Democratic Republic, (USA: International Monetary Fund, 2019) accessed October 5, 2024

Summary

This 2019 Article IV Consultation with Lao People’s Democratic Republic (P.D.R) analyses that after more than a decade of high growth with low inflation, country is solidifying its progress toward graduating from the Least Developed Country (LDC) status. However, more than one-fifth of the population remains poor, regional disparities are persistent, and recurring natural disasters pose risks for poverty reduction. A large current account deficit, low level of reserves, a high level of debt, managed exchange rate, and a dollarized banking system amplify macro-vulnerabilities. The authorities recognize the current economic challenges and their comprehensive reform programs aim at rebalancing the economy from a resource based to a more diversified growth model by investing in human development and improving competitiveness. Modernizing monetary governance and building reserves supported by greater exchange rate flexibility will help to mitigate external shocks in an uncertain global environment.

Subject: Economic and financial statistics, External debt, Government debt management, Government finance statistics, Public debt, Public financial management (PFM), Revenue administration

Keywords: CR, Debt, Deficit, FDI inflow, FDI investor, GFS expert, Global, Government debt management, Government finance statistics, Headline inflation, Includes Bank of Lao P.D.R, ISCR, Lao P.D.R., Lao P.D.R. authorities, Liability positions vis-à-vis nonresident, Rate

Publication Details

Pages:

101
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/267
Stock No:

1LAOEA2019002
ISBN:

9781513510491
ISSN:

1934-7685

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