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Books and Analytical Papers > IMF Staff Country Reports

You are looking at 1 - 10 of 52 items for :

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  • Lao People's Democratic Republic x
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Cover IMF Staff Country Reports
Lao People's Democratic Republic: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lao People's Democratic Republic
International Monetary Fund. Asia and Pacific Dept
Growth gathered momentum in 2023 on the back of recovering external demand, but exchange rate depreciation continues and inflation remains persistently high. Labor and FX shortages are intensifying. Public debt is assessed to be unsustainable, despite a tight fiscal stance. FX reserves remain low.
Keywords:
foreign exchange bureau; article IV consultation discussion; USD rate; obtaining FX; reference rate; market-clearing exchange rate; Public and publicly-guaranteed external debt; Debt sustainability analysis; Global; Asia and Pacific
Cover IMF Staff Country Reports
Lao People’s Democratic Republic: Technical Assistance Report-Regulation and Supervision of Crypto Assets
International Monetary Fund. Monetary and Capital Markets Department
This technical assistance report describes the regulation and supervision of crypto assets in Lao People’s Democratic Republic (LAO P.D.R.). Crypto uptake in Lao P.D.R. seems to be limited so far, and so consumer protection risks appear contained. The authorities are in the process of considering an appropriate regulatory and supervisory framework for mining and trading activities. The current regulatory framework for crypto trading platforms is a positive step to managing risks but would benefit from key prudential and conduct additions. Authorities should continue their efforts to coordinate domestically and cooperate with foreign peer regulators. Due to the novelty of the industry and the limited size of the Lao PDR market, the most prominent risks arising from crypto trading in the short term are likely to be generated by complex interconnections within crypto markets and broader financial markets. The mission commends the authorities in their coordinated approach to this new regime, and would like to encourage them to continue deepening that coordination.
Keywords:
trading platform; Lao PDR market; crypto trading license; market abuse; consumer protection risk; TA recipient; Virtual currencies; Mining sector; Capital markets; Financial sector stability; Blockchain and DLT; Global
Cover IMF Staff Country Reports
Lao People's Democratic Republic: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lao PDR
International Monetary Fund. Asia and Pacific Dept
This 2023 Article IV Consultation discusses that in Lao People’s Democratic Republic marked exchange rate depreciation following the global terms of trade shocks at the start of 2022 year brought high inflation and deteriorating living standards and caused substantial increases in the domestic currency values of public debt and bank liabilities. The authorities have achieved substantial improvement in the fiscal balance, which will need to continue for an extended period to help restore debt sustainability. Greater reliance on tax revenue mobilization would be better for growth. Persistent expenditure arrears necessitate urgent action on public financial management. Monetary policy should seek to raise retail interest rates through a combination of issuing central bank bonds and raising reserve requirements and the policy rate, to stabilize domestic currency usage and ease pressures on banks. Complementary policies are crucial to facilitate greater private sector employment and growth and boost foreign exchange earnings. Governance should be improved including with greater transparency and consistent implementation of regulations; and tackling corruption concerns remains crucial.
Keywords:
National Accounts statistics; liquidity pressure; IMF statistics Department; transparency policy; Lao P.D.R. authorities; exchange market pressure; Exchange rates; Debt service; Global; Asia and Pacific
Cover IMF Staff Country Reports
Lao People’s Democratic Republic: Technical Assistance Report on Government Finance Statistics Mission (October 4-29, 2021)
International Monetary Fund. Statistics Dept.
This paper presents Lao People’s Democratic Republic’s Technical Assistance report on government finance statistics (GFS) mission. There has been a progress on a gradual basis in the timeliness of GFS compilation and dissemination to the IMF due to an improvement in coordination between the Fiscal Policy and Law Department and data providers on the provision of source data, but these data are still not reconciled in a more regular and timelier basis. Monthly budget execution data which is used for GFS compilation, such as other allowances and subsidies in expenditure in particular, are aggregated and prepared according to source data from the data providers. The Annual budget for FY2022 including fiscal package including fiscal measures for coronavirus disease 2019 (COVID-19) pandemic response was submitted to the National Assembly in Nov/Dec 2021. The report recommends to coordinate with relevant departments including the Budget Department in the reporting system and/or the Inter-ministerial Committee to collect data for COVID-19 related spending for tracing and monitoring the spending.
Keywords:
IMF capacity development office; PSDS data compilation; IMF's Statistics Department; execution data; data dissemination to IMF; Government finance statistics; Budget execution and treasury management; Capital spending
Cover IMF Staff Country Reports
Lao People’s Democratic Republic: Technical Assistance Report-Government Finance Statistics and Public Sector Debt Statistics
International Monetary Fund. Statistics Dept.
This technical assistance (TA) report on government finance statistics (GFS) covers the remote TA to the Ministry of Finance (MOF) during September 21–October 2 and December 14–18, 2020 and March 9–13 and April 19–23, 2021 (which was extended to May 2021). These peripatetic activities were conducted remotely due to the travel restrictions resulting from the COVID-19 situation. This report documents the main achievements from these activities. These activities were part of the GFS and Public Sector Debt Statistics (PSDS) project funded by the Government of Japan (JSA3) and implemented by the IMF Statistics Department (STA) and the IMF Capacity Development Office in Thailand (CDOT).
Keywords:
MOF website; IMF capacity development office; IMF's Statistics Department; MOF staff; government finance information system; TA for April; Government finance statistics; COVID-19; Budget planning and preparation; Data collection; Budget execution and treasury management
Cover IMF Staff Country Reports
Lao People’s Democratic Republic: Technical Assistance Report-Risk-Based Banking Supervision
International Monetary Fund. Monetary and Capital Markets Department
The Banking Supervision Department (BSD) of the BoL is implementing risk-based supervision (RBS) methods. BoL staff are showing favorable results in understanding and applying RBS, recognizing that they are still in the early stages of capacity development. A new commercial banking law became effective in June 2019. The law incorporates expectations that financial institutions establish appropriate risk management systems and maintain adequate capital and liquidity. The law also gives the BoL purview over the adequacy of risk management in banks.
Keywords:
ISCR; CR; BSD staff; BSD manager; parent bank strength; business model; RAS report; RBS method; RBS manual; Foreign banks; Commercial banks; Bank supervision; Liquidity management; Loans; Bank legislation
Cover IMF Staff Country Reports
Lao People’s Democratic Republic: Technical Assistance Report-Risk-Based Banking Supervision