Bank of the Lao PDR to issue 5 trillion kip in saving bonds in order to arrest inflation issues hounding country

The central bank of Laos PDR - Image from Laotian Times

VIENTIANE, June 13: The central bank of Laos PDR will issue LAK 5 trillion in savings bonds to individuals and legal entities residing in the Lao PDR, except for commercial banks and depository financial institutions, reports Laotian Times.

A notice issued by the Bank of Laos PDR states that the first portion of a 5,000,000,000,000 Kip (five trillion Kip) bond will have a six-month maturity and a one-time non-transferable interest payment rate of 20% per year.