Fight inflation! Laos to issue government bonds worth 5 trillion kip, with interest rates up to 20%

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Radio Free Asia reports that The Lao government is desperate for cash liquidity. Prepare to offer 6-month government bonds worth 5 trillion kip (about 11,898 million baht) at interest rates as high as 20%, but the people of Laos and experts believe that the interest rates are high. sounds too good to be true and does not believe that the government will be able to fulfill this obligation

On Tuesday (June 14), the Lao PDR bank announced that it would begin selling government bonds in the amount of 5 trillion Kip, which would be sold to everyone. except commercial banks and financial institutions bank staff One Lao PDR revealed to Radio Free Asia that Foreigners who have lived in Laos for only 1 year have the right to purchase this government bond.

However, Radio Free Asia stated that Asking the Laotian people, the interest rate on government bonds that offer up to 20% interest sounds too good to be true. which they are not confident that the government does not have enough money will be able to perform this obligation The owner of a rubber processing factory said that He had no interest in buying this bond. Because it's too risky and that now the government is broken. And how to buy back the bonds at maturity?

Another business owner expressed surprise that the government bond interest rate was set as high as 20%, saying the government would pay such high interest rates. Because usually only slightly above 6% interest rates are seen on bonds.

One expert commented that He felt that most people were worried, unconvinced, and feared that the government would not have the money to buy back the bonds.

The Lao economy is facing inflation of 12.8 percent, its highest in 18 years and a severe shortage of foreign currency. including food and fuel which is a connected problem The Lao government has also blamed the devaluation of the kip on black market exchanges and has taken measures. to maintain the stability of the money
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