>> Inflation and Debt Weigh Down Lao PDR Economic Recovery
KEY POINTS
- Laos borrowed billions from President Xi Jinping’s administration to finance railways, highways and hydroelectric dams, which has ballooned public debt to over 100% of GDP.
- Combined with a currency crisis and soaring inflation, Laos is on the brink of economic collapse.
- Without a clear-cut debt reduction deal with China, Laos’ financial hardships are unlikely to ease, analysts warn. But it remains to be seen if Beijing will agree to long-term concessions.
A pedestrians at a bus station in Vientiane, Laos, on Saturday, June 24, 2023.
Valeria Mongelli | Bloomberg | Getty Images
Tiếp tục đọc “Laos is spiraling toward a debt crisis as China looms large”
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