Debt-saddled Laos struggles to tame rampant inflation

Vientiane, Laos —  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. At a market in Vientiane, traders told AFP they have never known business to be so slow, as families have seen the value of their money collapse since COVID-19. While the pandemic and Russia’s invasion of Ukraine sent prices around the world spiraling, Laos has found itself incapable of putting the brakes on inflation. Prices rocketed 23% in 2022 and 31% last year, while they

Read Full Article