Press Release No. 24/365

Statement by IMF Deputy Managing Director Kenji Okamura at the Conclusion of the 45th ASEAN Summit

October 11, 2024

Vientiane, Lao PDR: Mr. Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today in Vientiane, Lao PDR:

“I am glad to be in Vientiane to participate in the 45th ASEAN Leaders’ Summit. I would like to thank President Thongloun Sisoulith, Prime Minister Sonexay Siphandone and the Laotian government for their warm hospitality, excellent organization, and for the productive meetings.

“Growth in ASEAN economies is relatively strong, and inflation has declined. We expect growth to increase modestly to 4.6 percent in 2024 relative to 4.1 percent in 2023, reflecting robust domestic demand, improvements in external demand, and a strong recovery in investment and tourism.”

“The summit’s theme, Enhancing Connectivity and Resilience, reflects the reality of the world we live in. The IMF’s projections show that the global economy is heading for a soft landing, but the economic environment remains risky and uncertain.

“To successfully navigate these pressures, it is important to strengthen ASEAN’s resilience with deft policy management. Deepening regional integration will help growth momentum.

“The IMF is committed to supporting ASEAN with strategic policy advice, capacity development and lending when needed. We look forward to continuing our dialogue with ASEAN policymakers during the IMF and World Bank Annual Meetings later this month in Washington, DC.”