The Ministry of Finance and the Bank of the Lao PDR held a bilateral meeting in Vientiane on May 22 to discuss issues related to financial and monetary management.

The meeting was co-chaired by Governor of the Bank of the Lao PDR Mr Bounleua Sinxayvoravong and Minister of Finance Mr Santiphab Phomvihane.

The meeting aimed to strengthen cooperation on addressing difficulties related to financial and monetary management and review the implementation of agreements reached at the previous meeting of the two sectors in November 2022 on improving standard determination mechanisms, luxury goods import mechanisms, joint debt settlement, and foreign-currency revenue collection mechanisms.

Both sides reached an agreement to establish a committee who will determine imports, amend laws and sublaws on the management of cash imports and foreign currencies with respect to state revenue collection.

Source: Lao News Agency