IMF Downgrades Laos’ Economic Growth To 0.2 Percent
The lower growth rate is attributed to several factors linked to the global economic slump, triggered by the Covid-19 pandemic.
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IMF Laos
Laos Must Broaden Tax Base, Strengthen Administration: IMF
Laos should increase its revenues by broadening the tax base, reducing exemptions, and strengthening tax administration, the International Monetary Fund (IMF) said in its Article IV Report for the country.
The IMF said the country’s authorities have taken some important measures recently, including improving the …
Lao Trade Official Rejects IMF View That Currency Too Strong
Laos’ currency is not over-valued, a trade ministry official said on Saturday, rejecting an IMF assessment that the kip was too strong for a country with a large current account deficit.
The Asian Development Bank expects the external deficit to widen to 20 percent of GDP in 2017 from 17 percent in 2016, a level considered dangerous for …..
IMF Chief Praises Laos, Warns Of Challenges Ahead
International Monetary Fund (IMF) chief Christine Lagarde has lauded Laos’ economic achievements while cautioning that more work is needed to consolidate stability as the nation transitions from low-income country status.
Ms Lagarde is believed to be the first IMF chief to visit Laos since the country joined the ….
Improve Business Climate To Sustain Lao Economic Growth: IMF
Laos should pay greater attention to improving the business and investment climate in the country otherwise it will have difficulty sustaining economic growth, the International Monetary Fund (IMF) has warned.
According to the IMF staff report, the Lao government has committed to improving the business climate to make it easier for business people to invest and run businesses in the country. However the country has seen limited progress in public service delivery and the facilitation of private sector-led growth.
The IMF urged Laos to improve the public service and facilitate private sector investment and business operations so as it can sustain economic growth, as state investment projects and state enterprises alone will have not …..
IMF Tells Laos To Tighten Policies Amid Economic Concerns
Debt-ridden Laos has been told by the International Monetary Fund to tighten its policies to avoid a major economic crisis.
An IMF mission held annual consultations recently with the government in the country’s capital Vientiane, raising concerns about its rising inflation, the banking system, public spending, deteriorating current account deficit and falling international reserves, according to the Washington-based Fund’s officials.
“In general, Laos is running a high level of debt and is at risk of a financial crisis,” Prime Minister Thongsing Thammavong said, according to the state-controlled Vientiane Times newspaper. “This means we should closely control all aspects of investment and sharpen our focus during the upcoming 2013-14 fiscal year.”
It is not immediately clear how much higher ……