Charts of the Day: China Looms Large in Laos Debt Crisis
Laos could be teetering on economic collapse, triggering concerns of a sovereign default to creditors including China.
The Southeast Asian nation is suffering from mounting debt, rampant inflation and a plunging currency. Its struggles have been likened to Sri Lanka’s economic woes.
Public and publicly guaranteed debt in Laos has surged since 2019, reaching $14.5 billion last year, or 88% of its GDP. The ratio was much higher than its regional peers, according to preliminary estimates by the World Bank in an April report.
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