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Laos to launch a new system to improve foreign currency management.


Laos will launch a new system to monitor and manage the flow of foreign currency, Lao national TV reported on Wednesday.The country's' Ministry of Finance, Ministry of Industry and Commerce, and the central bank will jointly implement the Capital Flow Management System (CMS), which will link business registration and the transactions of exporters and investors with commercial banks and the central bank, the report said. 

The system will also provide a dashboard for relevant ministries to track the value and products of export and import activities. The CMS aims to manage and monitor the movement of international funds, maintain economic and financial stability, hedge the risks from fluctuating exchange rates, and encourage investment and international trade. The system is expected to be operational by the end of February 2024. 

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