The Bank of the Lao published an update on the Lao PDR delegation, led by Deputy Governor Sirisak Thanavong, participating in the 29th ASEAN Senior Level Committee on Financial Integration and related meetings in Kota Kinabalu, Malaysia, which reviewed the regional macroeconomic outlook and progress on ASEAN financial integration workstreams. The meeting brought together deputy governors from ASEAN central banks, the ASEAN Secretariat and representatives from international and regional organisations including the International Monetary Fund, the ASEAN+3 Macroeconomic Research Office and the Asian Development Bank. Discussions referenced ASEAN gross domestic product growth in 2025 trending to 4.7%, with Lao PDR projected at 4.6% compared with 4.5% in 2024, and ASEAN inflation forecast at 3.1% in 2025 versus 6.3% in 2024, easing further to 2.8% in 2026. Progress reports were also taken from working committees and task forces under the SLC, including implementation of the 2024 priority work plan and planning for 2025, with the Bank of the Lao presenting updates in its role as joint chair for the Working Committee on ASEAN Capital Account Liberalisation and the Working Committee on ASEAN Financial Services Liberalisation. Separately, Bank Negara Malaysia presented three priority economic deliverables and “Project Revive” for endorsement at the ASEAN Finance Ministers and Central Bank Governors’ Meeting in April 2025, and the next SLC meeting is scheduled for September 2025 in Indonesia.
Bank of the Lao 2025-03-13
Bank of the Lao attends 29th ASEAN Senior Level Committee on Financial Integration meeting and reports on capital account and financial services liberalisation work
The Bank of the Lao reported on its participation in the 29th ASEAN Senior Level Committee on Financial Integration, where regional macroeconomic outlooks and financial integration progress were reviewed. ASEAN GDP growth is projected at 4.7% in 2025, with Lao PDR at 4.6%, and inflation is expected to decrease to 3.1% in 2025. The Bank of the Lao, as joint chair, presented updates on ASEAN Capital Account and Financial Services Liberalisation.