Govt officials mull ways to strengthen macroeconomic management
Govt officials mull ways to strengthen macroeconomic management
The government is prioritising the importance of macroeconomic stability for sustainable growth amid rising challenges for economic development in the region.
As part of the efforts, the Bank of the Lao PDR (BOL) in collaboration with the International Monetary Fund (IMF) hosted a seminar on macroeconomic management in Vientiane last Friday.
Some 80 senior Lao government officials from various ministries, provinces and committees at the National Assembly and state-owned enterprises were invited to the event.
It was designed to enhance the capacity of senior officials to better understand the fundamental concepts of macroeconomic management for financial stability. In addition, the event aimed to strengthen cooperation between the BOL and IMF.
Governor of the Bank of the Lao PDR, Dr Somphao Phaysith, and IMF's Asia-Pacific Department Director Changyong Rhee co-chaired the seminar.
Key speakers came from the IMF, Bank of Thailand, the Asean plus 3 Macroeconomic Office and the IMF-Singapore Training Institute.
The seminar covered a wide range of topics including addressing macroeconomic challenges, tools for macroeconomic surveillance, regional economic development and other issues raised by the participants.
Meanwhile, Laos is addressing various challenges for macroeconomic stability as well as improving the economic structure to ensure effective implementation of the 8th Five-Year National Socio-Economic Development Plan (2016-2020).
