Publication:
Lao People's Democratic Republic - Joint World Bank-IMF Debt Sustainability Analysis

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dc.contributor.authorWorld Bank
dc.contributor.authorInternational Monetary Fund
dc.date.accessioned2019-10-17T17:48:07Z
dc.date.available2019-10-17T17:48:07Z
dc.date.issued2019-08
dc.description.abstractLao P.D.R.’s risks of external and overall debt distress continue to be assessed as high. Under the revised low-income country debt sustainability framework (LIC DSF), its debt carrying capacity has deteriorated and most external and total public debt indicators breach their respective indicative thresholds and benchmarks under the baseline scenarios. External debt indicators are most vulnerable to shocks to exports and depreciation of the currency. Public and external debt indicators are most sensitive to the contingent liabilities shock, while recent natural disasters underscore the need for strengthening buffers. The low level of reserves adds to these vulnerabilities. Factors, such as the large share of electricity export earnings under long-term intergovernmental power purchase agreements, and a strong and growing electricity exports market help mitigate risks, keeping the debt outlook sustainable. Market access is being maintained, around 65 percent of external debt is concessional, and the stock of expenditure arrears is declining. Rebuilding fiscal space, adopting clear guidelines for sovereign debt issuance and guarantees, assessing risks from contingent liabilities, and improving debt management are immediate priorities. Assessing and targeting infrastructure projects with high growth and social returns and financing these with concessional financing would benefit debt sustainability. Strengthening the business environment and governance, would improve the investment outlook, help diversify and make growth more inclusive. Increasing the export base, continuing to maximize the proportion of concessional loans and improving primary deficits would help to keep the debt burden contained.en
dc.identifierhttp://documents.worldbank.org/curated/en/441821570771074432/Lao-Peoples-Democratic-Republic-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019
dc.identifier.doi10.1596/32557
dc.identifier.urihttps://hdl.handle.net/10986/32557
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectDEBT SERVICE BURDEN
dc.subjectCONTINGENT LIABILITY
dc.subjectDEBT DISTRESS
dc.subjectEXTERNAL DEBT
dc.subjectPUBLIC SECTOR DEBT
dc.subjectPUBLIC AND PUBLICLY GUARANTEED DEBT
dc.subjectSUSTAINABILITY ANALYSIS
dc.subjectRISK ASSESSMENT
dc.subjectFISCAL POLICY
dc.titleLao People's Democratic Republic - Joint World Bank-IMF Debt Sustainability Analysisen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleLao People's Democratic Republic - Joint World Bank-IMF Debt Sustainability Analysis
okr.date.disclosure2019-10-11
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Debt and Creditworthiness Study
okr.docurlhttp://documents.worldbank.org/curated/en/441821570771074432/Lao-Peoples-Democratic-Republic-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019
okr.guid441821570771074432
okr.identifier.doi10.1596/32557
okr.identifier.externaldocumentum090224b0871c9a9c_1_0
okr.identifier.internaldocumentum31472093
okr.identifier.report142539
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/441821570771074432/pdf/Lao-Peoples-Democratic-Republic-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryLao People's Democratic Republic
okr.topicPublic Sector Development::Public Sector Economics
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicFinance and Financial Sector Development::Strategic Debt Management
okr.topicInternational Economics and Trade::External Debt
okr.unitEFI-MTI-Global Macro and Debt (EMFMD)
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