This 2023 Article IV Consultation discusses that in Lao People's Democratic Republic marked exchange rate depreciation following the global terms of trade shocks at the start of 2022 year brought high inflation and deteriorating living standards and caused substantial increases in the domestic...

Against the backdrop of generally sound policies and abundant natural resources, Lao P.D.R. has made impressive progress in developing its economy and reducing poverty. The key challenge going forward is to ensure that economic policy frameworks stay ahead of the curve to achieve sustainable and...

KEY ISSUES Economic context. Growth was strong in 2012, and the economy is overheating from expansionary macroeconomic policies. The current account deficit has deteriorated significantly, a product of a currency appreciation in real effective terms, a growing fiscal deficit, and strong domestic...

Pre-COVID-19, economic policies under "Abenomics" helped ease financial conditions, exit deflation, and raise labor market participation, but fell short on the deep reforms needed to raise productivity and achieve inclusive and sustainable growth. The Japanese economy is now recovering from the...

Macao SAR's recovery is expected to continue in 2022, but it will take several years before the economy returns to its pre-crisis level. Although strong fiscal support and the financial strength of Macao SAR's casino groups cushioned employment and consumption, the sharp contraction in activity...

KEY ISSUES Context. Raising growth and ensuring long-term fiscal sustainability remain the two critical issues of the FSM. The reform agenda, in particular, the tax reform package and growth-enhancing reforms, hinges on achieving a national consensus in a loosely federated nation. Outlook. The...

This 2015 Article IV Consultation highlights that after a sharp contraction in the first quarter of 2014, Thailand’s economy experienced a modest recovery in subsequent quarters, to expand by 0.7 percent in the year as a whole. Inflation decelerated toward the end of 2014 and became negative...

This 2015 Article IV Consultation highlights that Tonga’s economy is estimated to have grown by about 2 percent in FY2013/14 (year ending June) driven by agriculture and construction, following a contraction in 2012/13 mainly caused by the completion of a large capital project. The external...