IMF Laos

Lao Economy

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 …..

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Lao Economy

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 ……

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