Reform essential to restore economic stability in Laos: World Bank

Depreciation of Lao kip and high inflation further impact on Lao economy. -Phoonsab Thevongsa

VIENTIANE (Vientiane Times/Asia News Network): Laos faces increased challenges from currency depreciation and high inflation despite signs of economic recovery in early 2022, according to the World Bank’s latest economic update for the country.

The “Lao Economic Monitor for October 2022: Tackling Macroeconomic Vulnerabilities”, released on Monday (Nov 21), identifies ambitious reforms that can help the country restore economic stability and sustain growth.