VIENTANE, Nov 18 — Suffocating under a mountain of debt to China, communist Laos is struggling to tame rampant inflation, with food prices rising so sharply that a growing number...
Too important to China to fail, SE Asia’s ‘battery’ Laos struggles to tame rampant inflation and pay back US$13b debtNew toVERSAMM10VIENTANE, Nov 18 — Suffocating under a mountain of debt to China, communist Laos is struggling to tame rampant inflation, with food prices rising so sharply that a growing number of households are resorting to foraging.
Families in particular have been hit hard as the cost of basic staples such as rice, sugar, oil and chicken doubled last year. Life expectancy is just 69 years and the ADB says that nearly one in three children under five is stunted because of malnutrition – one of the highest rates globally. “Given Laos’ heavy reliance on imports, the kip’s depreciation has driven up domestic consumer prices and inflation, squeezing domestic demand and slowing economic recovery,” Poh Lynn Ng, an economist with the ASEAN+3 Macroeconomic Research Office , told AFP.
China Debt Inflation Battery Asean Asias Poorest
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