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The Lao People's Democratic Republic
Faced with a steadily worsening economy, the government of the Lao Peoples Democratic Republic took its first steps toward reforming its centrally planned economy in December 1979. The reform process gathered momentum with the introduction of the New Economic Mechanism in 1985, as the authorities began a series of far-reaching policy reforms in virtually all economic areas. This paper provides a much-needed overview of the Lao P.D.R.'s experience with systemic transformation and macroeconomic adjustments in recent years and highlights challenges that the country is likely to face in the coming years.
Education in the Lao People’s Democratic Republic
This book provides a comprehensive and in-depth description of the education system in Lao PDR. It covers pre-school, primary, secondary general, secondary technical and vocational, post-secondary non-higher education, and adult non-formal education and training. In addition to the main content, the book includes a glossary of terms and abbreviations used; and an appendix on the organizational structure of the Ministry of Education and Sports, including the linkages between the national, provincial and district level. The content covers public and private sector education provision alike.
Lao People’s Democratic Republic
Progress in fiscal reforms, especially with regard to revenue mobilization, will require a broader reform of center-province fiscal relations in Lao People’s Democratic Republic. There are challenges ahead to restructure the state-owned commercial banks (SCB) and strengthen the banking system. Corporate governance of SCBs is still weak, hampered by the absence of a fully independent board of directors. The international advisors should continue to play an important role in the bank restructuring process. The note presents statistical data on economic indices of Lao People's Democratic Republic.
Lao People's Democratic Republic
This 2016 Article IV Consultation highlights that the real GDP growth of Lao People’s Democratic Republic is expected to moderate from 7.5 percent in 2015 to 7 percent in 2016. Domestic activity has slowed following a less favorable external environment, and credit growth has also moderated from a high level. As growth continues to moderate in the near-term, inflation is projected to remain in low single digits. The current account deficit is projected to widen to about 19 percent of GDP in 2017 owing to the execution of large infrastructure projects with foreign direct investment.
Contemporary Laos
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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. Nonetheless, growth continued, and the prospect is for a return to steady growth in 2023. But public debt is assessed to be unsustainable, and servicing government debt presents substantial risks to this outlook.
Lao People's Democratic Republic
This report discusses major developments in the Lao People’s Democratic Republic (PDR), and updates the statistical tables on recent economic developments and provides an overview of the real sector. Factors that have limited revenue collections and developments in the monetary and financial sectors have been presented. The paper discusses the weakness of monetary policy as well as the financial sector and recent efforts to reform the banking system. Foreign direct investment and foreign exchange regime in Lao PDR have been examined.
A History of Laos
This authoritative and wide-ranging 1997 history traces events in this little-known country from ancient monarchy, through its establishment as a French colony, to independence in 1953, the People's Democratic Republic, and the present one-party authoritarianism. The book highlights Laos' complex and shifting political alliances. The struggle for independence from France was followed by a struggle for unity and neutrality in the face of persistent foreign intervention, as the country was drawn into the war in Vietnam. Only with the end of the Cold War and the withdrawal of Vietnamese troops has Laos been able to reassert its neutral foreign policy and develop a market economy. This book is an impressive political, social, cultural and economic history. It will be essential for anyone wanting to understand Laos as it joins ASEAN, faces great economic challenges and struggles to maintain its cultural identity.
