The value of the local currency, the kip, has fallen from 9,300 to the U.S. dollar in September 2021 to around 15,000 today . With only $1.2 billion in foreign reserves, Laos is on the brink of sovereign bankruptcy, as the state cannot meet its debt obligations, which require it to pay $1.3 billion per year until 2025.
14 июл. 2024 г. · Laos recently ousted the head of its central bank as authorities in the debt-laden country scramble for scarce foreign currency. |
31 мая 2024 г. · Relieved of the need to keep its currency afloat, the central bank could focus on addressing the country's worsening foreign debt crisis. |
9 сент. 2024 г. · The purchasing power of people in Laos is fading rapidly amid soaring inflation, a weakening currency and other deteriorating macroeconomic conditions. |
18 сент. 2023 г. · In Summer 2022, Laos' economic crisis hit a breaking point. The national debt rose to more than 10% of the GDP of the country. |
31 мая 2022 г. · Mounting foreign liabilities and thin foreign exchange reserves have left the nation of 7 million acutely vulnerable to global financial shocks. |
17 июл. 2024 г. · But things went south during the pandemic, with Laos' currency, known as the kip, depreciating heavily, which in turn fuelled rampant inflation. |
8 нояб. 2023 г. · An alarming debt crisis has unfolded in Laos in recent years, raising worries about the nation's obligation to its biggest creditor, China. |
12 мая 2023 г. · Inflation in Laos has increased significantly since the beginning of 2022, with rising prices continuing to inflict hardship on people ... |
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