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www.ucanews.com: Laos on thin ice as China takes control of electricity grid

Read Full Article Here: https://www.ucanews.com/news/laos-on-thin-ice-as-china-takes-control-of-electricity-grid/89456

The Nam Ngum Dam was the first hydropower dam to be built in Laos.

Like many countries in the region, Laos has felt the full economic impact of the Covid-19 pandemic.

The World Bank said in June that Laos’ debt levels would reach up to 68 percent of gross domestic product in 2020, up from 59 percent last year.

Fitch Ratings has also downgraded Laos’ ability to repay debt and changed its outlook to negative.

That probable ignominy follows reports that a deal has been reached between state-owned Electricite du Laos and China Southern Power Grid Co., with Laos ready to cede majority control of its electricity grid.

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