Lao People’s Democratic Republic: 2005 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Lao People’s Democratic Republic

Author: International Monetary Fund

Volume/Issue: Volume 2006 Issue 399

Publication date: November 2006

ISBN: 9781451822564

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Topics covered in this book

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Banks and Banking , Exports and Imports , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , government , Laotian authorities , Lao P , D , R , , Lao government , GDP target , Lao PDR authorities , authorities' intervention , government of Laos , Commercial banks , State-owned banks , Budget planning and preparation , Global , Mekong

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Summary

The macroeconomic performance for Lao People’s Democratic Republic is encouraging, but underlying fragilities remain. Progress needs to be made on structural reforms. On the fiscal side, the immediate challenge is to avoid an unsustainable expansion of spending. The medium-term priority is to mobilize revenues to enable Lao People’s Democratic Republic to meet its development needs, within a sustainable fiscal framework. Progress under the Public Expenditure Management Strengthening Program is essential to strengthen fiscal management. The country’s high debt burden requires prudent debt management.