The IMF Sends Laos a Reality Check Over Its Finances

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The IMF Sends Laos a Reality Check Over Its Finances - The Diplomat

Quick Summary:

The country's public debt is unsustainable, while inflation sits at 25 percent and the kip continues its freefall.

It noted Lao’s current financial plan “critically relies on the continued extension of debt relief from China and, to a smaller extent proceeds from the asset sale” with a Thai renewable energy company, Energy Absolute Public Company Limited (EA).

Meanwhile, the report highlighted substantial uncertainties clouding the economic outlook, including labor emigration, a decline in investment should exchange rate pressures exacerbate, increased pressure on the banking sector from deteriorating asset quality, and a continuing currency mismatch.