Law on Public Debt Management
公共债务管理法
ກົດໝາຍວ່າດ້ວຍ ການຄຸ້ມຄອງໜີ້ສິນສາທາລະນະ
Summary
This Law stipulates the fundamental principles and framework for public debt management, aiming to regulate the borrowing, utilization, repayment, and risk monitoring activities of the government and public sector. Its scope of application covers public entities at both the central and local levels, clarifies the responsibilities of the competent authorities for debt management, and sets requirements for the scale, structure, and sustainability of debt, so as to prevent fiscal risks and ensure the stable economic development of the country.
Articles
Article 1
Article 1. Purpose
This Law prescribes principles, regulations, and measures concerning the management of public debt work, in order to ensure the organization and implementation of such work with uniformity, centralization, effectiveness, and efficiency, aiming to raise funds, develop the domestic capital market, ensure economic stability, reduce debt costs and risks, and contribute to the national economic and social development.
Article 2
Article 2. Public Debt Management
Public debt refers to the total sum of debts arising from borrowing and obligations arising from government guarantees, used for development beneficial to the public interest, but excluding the debts of the Bank of the Lao People's Democratic Republic and state commercial banks.
Public debt management refers to the organization and implementation of principles, regulations, and measures concerning public debt work, and the use of various funding sources in accordance with the law, to ensure that the public debt situation remains at a controllable and repayable level.
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