Lao People's Democratic Republic

The staff report for the 2004 Article IV Consultation on Lao People’s Democratic Republic (PDR) highlights economic developments and policies. Lao PDR’s recent macroeconomic performance has been relatively encouraging. Although some headway has been made in reforming the state banks and state-owned enterprises, progress in mobilizing revenues and strengthening expenditure management has been slow, owing to capacity constraints and difficulty in advancing reforms in a decentralized fiscal structure. IMF staff encouraged the authorities to maintain progress in restructuring the two state banks, as both banks remain vulnerable.Article IV consultations;Economic conditions;Staff Reports;public debt, debt service, external debt, public expenditure, tax incentives, balance of payments, central bank, current account, debt management, fiscal management, public external debt, public finances, debt burden, fiscal reforms, tax policy, budget revenues, public debt management, debt data, public and publicly guaranteed, fiscal relations, external debt management, government budget, government debt, external financing, domestic financing, fiscal data, debt sustainability, budget deficit, private debt, debt stock, tax administration, fiscal position, fiscal structure, domestic debt, fiscal balance, tax rates, fiscal sustainability, debt sustainability analysis, fiscal policies, total debt stock, public sector borrowing, structural fiscal reforms, current account deficit, fiscal outlook, official creditors, fiscal stability, capital expenditures, fiscal revenues, prudent fiscal management, fiscal issues, tax base, fiscal sustainability analysis, structural fiscal, intergovernmental fiscal, current account balance, repayments, fiscal reform, external public debt, intergovernmental fiscal system, structural adjustment, external debt data, fiscal statistics, government revenue, tax reduction, long-term loans, commercial creditors, debt recording, governmental fiscal relations, fiscal system, external payments arrears, fiscal arrangements, account deficits, fiscal strategy, short-term debt, external loans, tax revenues, debt holder, public borrowing, external technical assistance, public and publicly guaranteed debt, expenditure reform, current account deficits, debt service to exports, medium-term fiscal strategy, general resources account, intergovernmental fiscal relations, debt relief, fiscal control, public expenditure reform, budget activities, fiscal outturn, long-term debt, fiscal revenue, external payments, debt dynamics, fiscal implications, budget measures, reserve accumulation, fiscal analysis, annual budget