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

dc.contributor.author World Bank
dc.contributor.author International Monetary Fund
dc.date.accessioned 2019-10-17T17:48:07Z
dc.date.available 2019-10-17T17:48:07Z
dc.date.issued 2019-08
dc.description.abstract Lao 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.identifier http://documents.worldbank.org/curated/en/441821570771074432/Lao-Peoples-Democratic-Republic-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019
dc.identifier.uri http://hdl.handle.net/10986/32557
dc.language English
dc.publisher World Bank, Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.rights.uri http://creativecommons.org/licenses/by/3.0/igo
dc.subject DEBT SERVICE BURDEN
dc.subject CONTINGENT LIABILITY
dc.subject DEBT DISTRESS
dc.subject EXTERNAL DEBT
dc.subject PUBLIC SECTOR DEBT
dc.subject PUBLIC AND PUBLICLY GUARANTEED DEBT
dc.subject SUSTAINABILITY ANALYSIS
dc.subject RISK ASSESSMENT
dc.subject FISCAL POLICY
dc.title Lao People's Democratic Republic - Joint World Bank-IMF Debt Sustainability Analysis en
dc.type Report en
dc.type Rapport fr
dc.type Informe es
dspace.entity.type Publication
okr.crossref.title Lao People's Democratic Republic - Joint World Bank-IMF Debt Sustainability Analysis
okr.date.disclosure 2019-10-11
okr.doctype Economic & Sector Work
okr.doctype Economic & Sector Work :: Debt and Creditworthiness Study
okr.docurl http://documents.worldbank.org/curated/en/441821570771074432/Lao-Peoples-Democratic-Republic-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019
okr.identifier.doi 10.1596/32557
okr.identifier.externaldocumentum 090224b0871c9a9c_1_0
okr.identifier.internaldocumentum 31472093
okr.identifier.report 142539
okr.imported true en
okr.language.supported en
okr.pdfurl http://documents.worldbank.org/curated/en/441821570771074432/pdf/Lao-Peoples-Democratic-Republic-Joint-World-Bank-IMF-Debt-Sustainability-Analysis-August-2019.pdf en
okr.region.administrative East Asia and Pacific
okr.region.country Lao People's Democratic Republic
okr.topic Public Sector Development :: Public Sector Economics
okr.topic Finance and Financial Sector Development :: Debt Markets
okr.topic Finance and Financial Sector Development :: Strategic Debt Management
okr.topic International Economics and Trade :: External Debt
okr.unit EFI-MTI-Global Macro and Debt (EMFMD)
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