Landlocked and underdeveloped, Laos is a relatively remote country, squeezed in-between the bigger economies of neighbouring China, Thailand and Vietnam, and buffered by Myan-mar and Cambodia at its extremities. It is run by one of the world's few remaining communist governments, which pursues economic reform efforts with just enough vigour to keep the international donor community engaged with the population of six million people, most of whom do not have bank accounts. Laos once had eight state-owned domestic banks, plus a handful of foreign bank branches cooped up in the capital, Vientiane. But because of a poor credit culture, these domestic banks tottered under the weight of non-performing loans and, over the years, have gradually been consolidated into just a handful.
展开▼
