China-indebted Laos way more broke than advertised
Laos’ public debt could climb to nearly 95% of GDP by the end of 2022, making it one of the most heavily indebted and mostly likely to default nations in Asia, according to World Bank estimates published this month.
Significantly, the World Bank’s already dire debt figures do not encompass all of the small Southeast Asian nation’s liabilities.
Asia Times’ reporting and analysis show that Laos’ total debt, including other publicly guaranteed liabilities not included in headline figures, could take the state’s total financial obligations well over 100% of GDP for the first time ever this year. And that’s only the debt officially recognized by the Lao government.
DAVID HUTT
