Lao People’s Democratic Republic: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lao People’s Democratic Republic

March 23, 2018

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Lao People’s Democratic Republic: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lao People’s Democratic Republic, (USA: International Monetary Fund, 2018) accessed December 22, 2024

Summary

This 2017 Article IV Consultation highlights that the economy of Lao People’s Democratic Republic continues to perform well, supported by a favorable external environment and strong flows of foreign direct investment from its dynamic neighbors. Growth in 2017 was supported by the expansion of electricity exports, construction activity and financial services, but moderated to 6.8 percent as a result of the prohibition on illegal logging, tighter credit conditions and fewer tourist arrivals. Looking ahead, the outlook is positive, with growth on the order of 7 percent per year. Downside risks stem from high public debt and deficits, pockets of weakness, and high dollarization in the banking sector, and a vulnerable external position with low gross international reserves.

Subject: Commercial banks, Economic and financial statistics, Expenditure, External debt, External sector statistics, Financial institutions, Government finance statistics, Public debt

Keywords: Administration reform, Authority, Commercial banks, CR, Credit growth, Deficit, External sector statistics, Flexible regime, Global, Government finance statistics, Highly-dollarized banking system, ISCR, Lao P.D.R. authorities, Mekong, Reform agenda

Publication Details

Pages:

79
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/084
Stock No:

1LAOEA2018001
ISBN:

9781484348536
ISSN:

1934-7685

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