Lao people launch #Savelaokip campaign to ban baht dollar. Set your rate

Several online campaigns have been launched in Lao PDR. #Save Lao kip #Savelaokip Save Lao Kip, and accept only Kip money. Do not accept foreign money or if foreign tourists want to spend money, they can spend it. But there must be a condition: the store must set the new price by itself, hoping to solve the problem.Cape depreciates Reduce the inflation rate of the Lao currency, and stop the current depreciation of the kip.

It's like this. Who's planning to go?Travel to Laos You should carry some cash with you because Laos is considered to be suffering from serious problems with currency devaluation.

It is known that merchants, stores and online people in Laos have now come out to campaign using hashtags. #save your money By settingCurrency exchange rateThe store's exchange rate is 1 baht, which is equivalent to 250 kip, while the actual exchange rate is 1 baht, which is equivalent to approximately 700 kip.

Banning the Lao Baht and Dollar, what are the benefits?

Many people may suspect that this campaign by Laos using the hashtag #Savelaokip #Savelaokip may cause Laos to lose more benefits. The main problem is the shortage of foreign exchange. The lost opportunities in various fields, whether it is the tourism economy, the lost tourists – lack of liquidity to spend, especially those who carry baht, dollars, etc.

Thailand-Laos has just opened ticket booking for its first train. Route Bangkok Apiwat – Vientiane (Khamsawat)

Especially during this period, the State Railway of Thailand has just opened the reservation of international passenger train tickets. Route “Thailand – Lao PDR” Bangkok Apiwat – Vientiane (Khamsawat)

The first trip is on July 19, 2024. Many Thais will have to go back and plan their travel again. Will it be fun? You have to worry a lot about spending in Laos.

Opening of international passenger train routes “Thailand – Lao PDR” Bangkok Apiwat – Vientiane (Khamsawat)

• The first train is open to passengers on July 19, 2024. You can book your ticket from today onwards.
• Open for round trip service, 2 trains, consisting of 152 regular third class (fan) cars, 64 air-conditioned second class passenger cars, and 30 air-conditioned second class sleeping and lodging cars, attached to express train No. 133.
• Service opening for Udon Thani – Vientiane (Khamsawat) – Udon Thani round trip route, 2 more trains, total 4 trains per day as well.

People's travel route Thai-Lao People's Democratic Railway Bangkok Apiwat – Vientiane (Khamsawat) Additional (Click)

Laos' total external debt doubled in 2023 to nearly $950 million, and the Lao government has deferred debt payments.

Reference information from Bloomberg News Agency (Bloomberg) reported in early July 2024 that: Lao PDR's total foreign currency debt has doubled to $950 million by 2023.

The government was even forced to request another moratorium on debt payments to avoid defaulting on debts worth more than GDP.

Ministry of Finance, Lao People's Democratic Republic It revealed that foreign currency debt payments increased by only $507 million in 2022. All of this made the Lao government have to request a deferral of the loan principal and $670 million in interest payments for 2022.

This figure is in addition to approximately $1.22 billion in debt obligations. The government has already deferred debt repayments once in 2020. Laos has therefore continued to negotiate with major creditors to defer or roll over all debt, which will help improve liquidity and reduce debt repayment pressures.

From the data as of the end of 2023, the Lao PDR is suffering from public debt. The government-guaranteed debt totals $13.8 billion. This is down by only 1% from the previous year and represents 108% of GDP. The preliminary data shows that the external debt of the Lao PDR government is estimated at more than half of this at $1.05 billion. This is debt to the Chinese government.

The depreciation of the cape is a concern in many countries.

Many countries are concerned that the Lao Kip will continue to depreciate. The Lao PDR has a dollar-denominated debt that accounts for 59% of its total external debt, and throughout 2023, the kip has already depreciated by 31% against the dollar.

Reference image: Birdanay Noivanesvong ,thus ,It's time to share Laos