State borrowing may spike
Cambodia's draft budget law for 2012 will seek to increase concessional borrowing by about 75 per cent compared to 2011, according to a copy of the draft obtained by the Post. A lack of aid commitment may have led to the increase in proposed borrowing, experts said yesterday. The Cambodian Development Co-operation Forum, a group of international donors led by the World Bank, indefinitely postponed its annual meeting in August after the World Bank cancelled loans due to forced evictions at Boeung Kak Lake. "This year, the aid mechanism is cancelled. Now the government feels the need to borrow more than before," Chheng Kimlong, a business and economics lecturer at the University of Cambodia, said yesterday...
