News

In the last three months, Cambodia paid $183 million in foreign debt, with total debt standing at $9.81 billion. However, authorities remain unconcerned, claiming funds are being funneled into investment and development. ...

Having been criticised for its position toward China, the world’s second largest economy, from where most of its foreign debt has come for years, Cambodia is now more likely to change its foreign loan sources to boost economic growth. ...

The government plans to reduce its foreign debt and raise capital through the issuance of bonds, a representative of the Ministry of Economy and Finance has unveiled. “Increasing local borrowing instead of foreign borrowing will improve the country’s trade balance and current account,” said Vong Seyvisoth, ...

Cambodia’s largest opposition party has expressed concern that China’s investment in the country is heavily skewed towards exploiting natural resources, wreaking havoc on the environment. China is Cambodia’s largest investor by a wide margin, having poured U.S. $9.7 billion into the country over the past 18 ...

The US Congress has averted the “fiscal cliff” by passing a number of budget agreements, and Cambodian politicians and observers say the experience is a good example of compromise between two sides. Cheam Yiep, a lawmaker for the ruling Cambodian People’s Party and head of ...

The Cambodian government collected $683 million in taxes over the first 11 months of this year, according to data from the General Department of Taxation released last week. An economist said the increase in domestic tax revenue emphasised that Cambodia still has room for improvement in ...

Lawmakers at the National Assembly yesterday debated the government’s plan for public spending next year, with the opposition challenging the government’s plans to rack up more foreign debt. Since the draft of the 2013 budget was released last month, the opposition has come forward with detailed ...

WASHINGTON DC – Seven opposition lawmakers say they have found new ways to reduce the national debt and are requesting that the National Assembly’s finance committee meet with them before drafting the 2013 national budget. The lawmakers, from the Sam Rainsy and Human Rights parties, say ...

Cambodia’s 2012 budget passed through the National Assembly yesterday unopposed, without a single question asked and no parliamentary debate in a situation the government, opposition and observers all said was unfortunate. It took just over three hours for the law to be passed, 86 to 0, ...

Prime Minister Hun Sen yesterday added his two cents to the ongoing debate on what Cambodia’s debt to China actually is, declaring it stands at only US$2 billion. At a ground-breaking ceremony marking the beginning of construction on Phnom Penh’s Cambodia-China Friendship Bridge, the premier rejected ...