News

A serious concern: Cambodians’ $8 billion microfinance debt

Impending COVID-19 health measures and high levels of micro debt pose a serious concern for the approximately 2.4 million Cambodians with a combined outstanding debt of $8 billion, according to a World Bank report released this week. ...

Harrison White
https://www.khmertimeskh.com/50708402/a-serious-concern-cambodians-8-billion-microfinance-debt/

Moody’s warns about impact of ‘shift in political relations’

The government’s plan to take a new $2 billion loan for next year’s budget will increase the debt burden to 31.5 per cent of the GDP next year, an analyst from credit rating agency Moody’s said, adding that it remained at a moderate level compared ...

Hor Kimsay
https://www.phnompenhpost.com/business/moodys-warns-about-impact-shift-political-relations

Russia converts debt to investment

Russia has agreed to recategorise Cambodia’s outstanding $1.5 billion debt as an investment, pledging to provide more aid to the Kingdom next year. Prime Minister Hun Sen met with Russian Prime Minister Dmitry Medvedev in Brussels on Thursday. Mr Hun Sen had asked Russia to ...

Khy Sovuthy
https://www.khmertimeskh.com/50542729/russia-converts-debt-to-investment/

Hun Sen praises Japan’s lending policies while lashing out again at US

Prime Minister Hun Sen on Monday shot another arrow at the Kingdom’s relations with the US, calling his country’s yet-unpaid loan of $500 million borrowed by the regime of Lon Nol “a very dirty debt”. He contrasted that by praising Japan for its aid to ...

Ben Sokhean
https://www.phnompenhpost.com/national/hun-sen-praises-japans-lending-policies-while-lashing-out-again-us

Cambodia telecom companies urged to pay overdue regulatory fees

The government has issued a new warning to telecommunications companies that have yet to deliver outstanding payments to the Kingdom’s ministries, giving regulators until the end of the month to settle their debts. ...

Hor Kimsay and Robin Spiess
https://www.phnompenhpost.com/business/cambodia-telecom-companies-urged-pay-overdue-regulatory-fees

Hun Sen complains about $500M Lon Nol-era debt

Prime Minister Hun Sen revisited a wedge issue between Cambodia and the US on Tuesday, complaining about the approximately $500 million in Vietnam War-era debt accumulated under the Lon Nol regime still owed to the superpower. ...

Mech Dara
http://www.phnompenhpost.com/national/hun-sen-complains-about-500m-lon-nol-era-debt

Microloans work for some, leave many in debt

Nearly everyone living in Pann Sopheatra’s village, just across the Mekong River from Phnom Penh, has either taken out a microfinance loan or knows someone who has.   ...

Matt Surrusco and Buth Kimsay
https://www.cambodiadaily.com/news/microloans-work-for-some-leave-many-in-debt-126762/

Let’s talks about debt: US envoy

US ambassador to Cambodia William A. Heidt says he wants the Cambodian government to sit down and talk about a multi-million-dollar debt owed to America from the days before the Khmer Rouge regime.   ...

Ven Rathavong
http://www.khmertimeskh.com/news/36077/let---s-talks-about-debt--us-envoy/

PM again asks Trump for ’70s-era debt relief

Prime Minister Hun Sen has once again called for the United States to drop the debt Cambodia incurred during the 1970s Lon Nol regime, just days after US Ambassador William Heidt said in no uncertain terms that the US had no such plans. ...

Touch Sokha
http://www.phnompenhpost.com/national/pm-again-asks-trump-70s-era-debt-relief

Household income falls, debt rises sharply after drought

The economic stability of Cambodian households took a beating during the El Nino weather cycle that enveloped the region during the last dry season, resulting in drought conditions that drove many families into debt and lower income brackets, a new study has found. The study, released ...

Janelle Retka
https://www.cambodiadaily.com/news/household-income-falls-debt-rises-sharply-drought-118540/

Telecom CEOs Say Debts to Mfone Are Far Less

Executives at some of the telecommunication firms indebted to bankrupt mobile operator Mfone said Thursday they owe much less than claimed by the company, and will negotiate with Mfone’s administrator to find a resolution before a complaint is filed in court. “We do owe Mfone money, ...

http://www.cambodiadaily.com/business/telecom-ceos-say-debts-to-mfone-are-far-less-34630/

Micro-life insurance on rise

When 46-year-old Than Thol got a $900 loan from Samic Microfinance last year, he took advantage of a little-known and  lengthily worded insurance program called Measure for Economic and Accelerated Development for All, or MEADA. MEADA provides coverage for families of mostly lower-income borrowers in the ...

http://www.phnompenhpost.com/2013060466033/Business/micro-life-insurance-on-rise.html

Cambodia's Public Debt

According to the [inter]national Monetary Fund (IMF), at the end of 2011, the stock of Cambodia’s external public debt, including arrears, stood at around US 3.8 billion or 30 percent of GDP (24 percent in NPV terms). China remains the largest bilateral creditor, contributing to ...

http://www.cambizreview.com/

Thaicom to sell Mfone for $100

Troubled Cambodian telecoms operator Mfone will be disposed of by its parent company, Thaicom, in the coming weeks for $100 to INT Management Service Company Limited (INT), according to a filing with the Stock Exchange of Thailand (SET). Shenington Investment, a subsidiary of Thaicom and the ...

http://www.phnompenhpost.com/index.php/2012112259878/Business/thaicom-to-sell-mfone-for-100-by-years-end.html

Bilateral Talks, and Their Two Interpretations

Two polarizing narratives emerged after the Monday night discussion between U.S. President Barack Obama and Prime Minister Hun Sen, with the U.S. claiming it had been “tense,” while Cambodia insisted the talks were cordial. When it came to agenda, Mr. Obama put human rights, electoral and ...

http://www.cambodiadaily.com

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