VIENTIANE, May 22 (Xinhua) -- The Lao economy is showing signs of stabilization, 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 stability.
Phetsathaphone highlighted that since late 2024, Laos has seen notable improvements in its financial and monetary sectors. Inflation dropped from an average of 31.23 percent in 2023 to 23.13 percent in 2024, and further to 11.21 percent in March and 11.1 percent in April 2025. The exchange rate has remained stable, with the Lao kip gradually strengthening, while management of export earnings has also improved significantly.
These improvements demonstrate that the implementation of the monetary plan by the Lao People's Revolutionary Party, the Lao National Assembly, the government, and the central bank has made steady progress.
People from all sectors are urged to collaborate and strengthen their efforts in addressing national priorities, particularly overcoming economic, financial, and monetary challenges, to restore stability swiftly, according to the report. ■
