Laos is the latest International Monetary Fund member to accept the obligations under Article VII Sections 2, 3 and 4 of the fund’s articles of agreement. By accepting these obligations, Laos has agreed not to impose restrictions on the conduct of payments and transfers of current international transactions. The obligations also prevent the country from engaging in discriminatory currency arrangements, except with IMF approval.

    About the author

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      Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.