- Politics

DPM Saleumxay Kommasith receives IMF’s senior official

Deputy Prime Minister and Minister of Foreign Affairs Saleumxay Kommasith received in Vientiane on Wednesday a courtesy call from Deputy Managing Director of the International Monetary Fund (IMF) Kenji Okamura as the latter is paying a working visit to the Lao PDR to assess its macro economy.

Extending warm welcome to the guest, Deputy Prime Minister Saleumxay Kommasith appreciated the IMF official for his visit to the Lao PDR to evaluate its macroeconomic status in 2022 noting that the appraisal by IMF is crucial for the Lao PDR as the country is experiencing numerous internal and external challenges, and the appraisal results will serve as key indicators for Laos’ ranking with respect to its attractiveness to foreign aid and investment.

Investors, development partners and foreign companies are waiting for the results of the macroeconomic assessment of the Lao PDR, according to Kenji Okamura.

The vice premier asked IMF to further provide technical assistance to the relevant authorities of the Lao PDR so that the country can cope with the risks it is facing in an effective and timely manner.

IMF’s appraisal focused on five areas namely economic development, public finance, monetary and banking policy, inflation and exchange rate and predictions.

The appraisal findings suggest that there continue to be many economic challenges and vulnerabilities that can affect the economic growth and stability of the Lao PDR.

However, IMF expects that Laos’ economy will return to normalcy and enjoy a constant growth in the future.

This is the first time that a senior official from IMF has participated in Laos’ macroeconomic assessment marking a new landmark in the bilateral cooperation between the country and IMF.

Source: Lao News Agency