Balanced News: Laos struggling to combat rising costs

Inflation in the small, land-locked nation of Laos has been spiraling for the last few months, shooting up by nearly 40% at the end of 2022 as a new prime minister tries to calm concerns about rising costs. In response, Lao authorities ordered the closing of all money exchange outlets and are now allowing only banks to exchange foreign currencies. Top economic officials are hoping for a recovery in tourism and a loosening of travel restrictions, particularly from China.