Laos

Modern-day Laos has its roots in the ancient Lao kingdom of Lan Xang, established in the 14th Century under King FA NGUM. For 300 years Lan Xang had influence reaching into present-day Cambodia and Thailand, as well as over all of what is now Laos. After centuries of gradual decline, Laos came under the domination of Siam (Thailand) from the late 18th century until the late 19th century when it became part of French Indochina. The Franco-Siamese Treaty of 1907 defined the current Lao border with Thailand. In 1975, the Communist Pathet Lao took control of the government ending a six-century-old monarchy and instituting a strict socialist regime closely aligned to Vietnam. A gradual return to private enterprise and the liberalization of foreign investment laws began in 1988. Laos became a member of ASEAN in 1997.

Economical characteristics

 * Currency: Kip (ISO code: LAK)
 * Central bank discount rate: 4% (31 December 2009)
 * Commercial banks lending rate: 11% (30 November 2009)
 * Stock of money (M1): $691.1 million (31 December 2009)
 * Quasi money (with M1 makes M2): $1.08 billion (31 December 2009)

Notable events:

 * Banking crisis: early 1990s

Links

 * Laos on Wikipedia
 * Central bank of Laos
 * Studies from the Library of Congress (1986-1998)
 * BBC country profile
 * Country profile (pdf) from the Enterprise Studies page (part of the The World Bank Group)