Too important to China to fail, SE Asia’s ‘battery’ Laos struggles to tame rampant inflation and pay back US$13b debt

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Too important to China to fail, SE Asia’s ‘battery’ Laos struggles to tame rampant inflation and pay back US$13b debt - Malay Mail

Quick Summary:

VIENTANE, Nov 18 — Suffocating under a mountain of debt to China, communist Laos is struggling to tame rampant inflation...

While the pandemic and Russia’s invasion of Ukraine sent prices around the world spiralling, Laos has found itself incapable of putting the brakes on inflation.

The Bank of Lao PDR has raised interest rates and in August, the government launched a plan aiming to bring inflation below 20 percent by December.