Washington, DC: An International Monetary Fund (IMF) delegation led by Mr. Alasdair Scott, Mission Chief for Lao P.D.R., visited and conducted discussions with the authorities for the 2023 Article IV Consultation from January 26 to February 8, 2023. The team held constructive meetings in Vientiane with senior officials from Bank of the Lao P.D.R., Ministry of Finance, and other government agencies, and with private sector representatives. The discussions covered macroeconomic developments, prospects and challenges, and policies to further the progress of the Lao P.D.R. IMF Deputy Managing Director Kenji Okamura joined the concluding meetings with senior policy officials.
In 2022, the global fight against inflation has resulted in a difficult year for Lao P.D.R. This year, stronger economic activity in China in 2023 due to re-opening means greater demand for goods and services produced in Lao P.D.R., and more tourists coming to the country. At the same time, world inflation seems to have peaked. But the world economy and Lao's economy are not out of the woods just yet, with risks to the global outlook remaining tilted to the downside.
We would like to thank the authorities for the excellent discussions and their support during the Article IV visit.
