Lao People’s Democratic Republic: Staff Report for the 2004 Article IV Consultation
Volume/Issue:
Volume 2005
Issue 008
Publication date: January 2005
ISBN: 9781451822533
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , government , Lao authorities , headline inflation , Lao P , D , R , revenue , poverty eradication program , authorities' intervention , government commitment , Budget planning and preparation , Debt service , Global
Summary
The staff report for the 2004 Article IV Consultation on Lao People’s Democratic Republic (PDR) highlights economic developments and policies. Lao PDR’s recent macroeconomic performance has been relatively encouraging. Although some headway has been made in reforming the state banks and state-owned enterprises, progress in mobilizing revenues and strengthening expenditure management has been slow, owing to capacity constraints and difficulty in advancing reforms in a decentralized fiscal structure. IMF staff encouraged the authorities to maintain progress in restructuring the two state banks, as both banks remain vulnerable.
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