Laos govt reveals debt payment plan; determined to pay off US$14bil owing over the next five years

VIENTIANE, Aug 15 (Vientiane Times/ANN): Revenue earned from potential mining operations, revamped state enterprises and from other as yet untapped sources will be used to pay debts amounting to almost US$14 billion, the government has told the National Assembly (NA).

Foreign debt has accumulated to about US$13 billion and domestic debt now stands at US$900 million. Money has been borrowed to balance the budget, Minister of Finance Bounchom Ubonpaseuth told an extraordinary session of the NA’s ninth legislature recently.