Banks spared flooding woes
Cambodia’s banks should be largely spared the heavy damages already seen in many parts of the Kingdom’s economy, officials said yesterday, though microfinance lenders will feel some impact. Minister of Economy and Finance Keat Chhon last week revised downward the government’s gross domestic products for 2011 as a result of the floods, to 6 per cent from an earlier 7 per cent. While there was potential for that constriction to also affect the banks, which loan to most sectors of the economy, officials tempered the concern. The agriculture sector by far has seen the most significant impact from the floods, with about 318,900 hectares of rice, or 13 per cent of the country’s total crop, having been affected, according to National Committee for Disaster Management figures released last week…
http://www.phnompenhpost.com/index.php/2011101952199/Business/banks-spared-flooding-woes.html
