DW – 09.08.2022 – Enno Hinz

Laos is facing one of its worst economic crises in decades, with the country experiencing galloping inflation and staring at a debt default.   

Inflation in Laos has hit a 22-year high, causing a scarcity of essential commodities like fuel

Laos’ economy has been on the brink of collapse due to a spiraling debt crisis that is crippling the country’s finances and bringing it perilously close to default.

In June, the Southeast Asian nation’s Statistics Bureau announced that inflation hit a 22-year high of 23.6%, causing staple goods to become scarce and eroding the population’s purchasing power.

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