By 2025, Laos hopes to have paid off its USD 14 billion debt.

[ASEAN NOW]

 

With earnings from mining operations and reformed state firms, a total of USD 13 billion in foreign debt and USD 900 million in domestic debt will be paid off.

 

According to the Vientiane Times, Minister of Finance Bounchom Ubonpaseuth recently stated in the National Assembly's ninth legislative that the country expects to pay its debts over the next five years, from 2021 to 2025, and then from 2026 to 2030, using newly found revenue streams.

 

The administration says it would look for new sources of revenue as well as explore the potential for more revenue from the mining and energy sectors.