Vientiane, May 22 -- The Lao economy is showing signs of stabilisation, especially in the currency and monetary sectors, thanks to strong government efforts, said Phetsathaphone Keovongvichith, director general of the Banking Operations Department under the Lao central bank, the Bank of the Lao PDR.
The local Pasaxon newspaper on Thursday quoted Phetsathaphone as saying that the Lao government has taken strong steps to address economic and monetary challenges by guiding key sectors, especially banking, to implement key reforms.
These include a tight monetary policy, stricter foreign exchange controls, new rules on export income, and the launch of the Lao Foreign Exchange platform, all contributing to greater liquidity and monetary stabi...