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International Monetary Fund
This report provides an update of the assessment of Lao P.D.R.’s macroeconomic conditions and outlook presented at the time of the 2004 Article IV Consultation and in the Assessment Letter of March 10, 2005.
International Monetary Fund

1. This report provides an update of the assessment of Lao P.D.R.’s macroeconomic conditions and outlook presented at the time of the 2004 Article IV Consultation 1 and in the Assessment Letter of March 10, 2005. Recent Developments 2. Lao P.D.R. has continued to enjoy stable macroeconomic conditions and a strong recovery in economic activity . The Kip traded in a relatively narrow band in the first half of 2005 and the rate of inflation declined to 5½ percent in June, despite a sharp increase in fuel prices. External reserves remained comfortable