News

Greater riel use could boost foreign reserves

When Cambodia began accumulating foreign reserves in 1997 – after it switched from a centrally planned market to an open economy – the central bank deposited the $276 million it had saved at the Federal Reserve Bank of New York and allowed it to manage ...

Riel Gains
http://www.khmertimeskh.com/news/36512/greater-riel-use-could-boost-foreign-reserves/

Old US bombs revive dispute over $500m war-era debt

The head of Cambodia’s largest demining operator cited Monday’s disposal of a pair of decades-old American bombs as part of the government’s mounting efforts to shame the U.S. into canceling the country’s ballooning war-era debt, which now stands at about $500 million. ...

Phan Soumy
https://www.cambodiadaily.com/news/old-us-bombs-revive-dispute-over-500m-war-era-debt-126478/

CPP passes 2017 budget

The 2017 national budget, with more than $5 billion in expenditures, was passed by the Senate yesterday without any changes despite opposition from the CNRP. Expenditures in the 2017 budget are up 15.6 percent compared with 2016 and include more than $1 billion in foreign loans. ...

Taing Vida
http://www.khmertimeskh.com/news/32798/cpp-passes--2017-budget/

IMF maintains Cambodia's projected growth at 7.2 pct in 2014

The International Monetary Fund (IMF) on Friday kept its projection for Cambodia’s economic growth rate at 7.2 percent this year and 7.3 percent next year. ...

Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-10/10/c_133705938.htm

As banking sector booms, overbanking looms

Last month, Cambodia’s nascent yet rapidly expanding banking sector saw the new arrival of Phillip Bank through the acquisition of Hwang DBS Commercial Bank by Singapore’s Philip Capital in a $40 million deal. The number of banks in the country has more than doubled since 2005, ...

Kang Sothear and George Styllis
http://www.cambodiadaily.com/business/as-banking-sector-booms-overbanking-looms-67824/

Amid credit expansion, Riel loans minimal

Cambodia’s credit sector is expanding rapidly with the central bank saying now is the time to start infusing the market with riel and begin a process of de-dollarization in the country’s economy. But as the growth of dollarized loans outstrips those in riel, disbursing credit ...

George Styllis and Kang Sothear
http://www.cambodiadaily.com/business/amid-credit-expansion-riel-loans-minimal-66610/

Cambodian PM says economy to grow by 7.5 pct this year

Cambodian Prime Minister Hun Sen said Wednesday that the country’s economy is forecast to grow by 7. 5 percent in 2014, driven by steady growth in agriculture, garment export, tourism, and construction. ...

Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-08/06/c_133536721.htm

PM says BRICS bank to ease dependency

Prime Minister Hun Sen yesterday applauded the recent creation of the BRICS New Development Bank (NDB), saying it could ease Cambodia’s dependence on institutions such as the World Bank and the International Monetary Fund (IMF). BRICS member nations Brazil, Russia, India, China and South Africa announced ...

May Kunmakara
http://www.phnompenhpost.com/business/pm-says-brics-bank-ease-dependency

Taiwan gets green light to open trade center in Cambodia

The nation has received approval from the Cambodian government to open a trade center in Phnom Penh, the semi-official Taiwan External Trade Development Council (TAITRA) said. The center, which is expected to be officially opened next month at the earliest, will raise the number of the ...

Taipei Times News Staff
http://www.taipeitimes.com/News/taiwan/archives/2014/07/17/2003595311

IMF projects further acceleration in Cambodian growth

The International Monetary Fund is projecting further modest acceleration in Cambodia’s rate of economic  expansion over the next five years. In the latest World Economic Outlook released Tuesday, the IMF projects that Cambodia’s gross domestic product will grow from an estimated 7.0 percent last year to ...

The Cambodia Herald News Staff
http://thecambodiaherald.com/cambodia/detail/1?page=13&token=M2VkZmJjNTE5ZjU

Cambodia's economy achieves 7 pct growth last year despite political row: central bank

Cambodia’s economy grew by 7 percent in 2013 even though political row over the July election has still persisted, the National Bank of Cambodia (NBC) said Tuesday. The growth was lower than that of 2012, which was up to 7.3 percent. “In 2013, Cambodia’s economy achieved ...

Xinhuanet News Staff
http://news.xinhuanet.com/english/business/2014-01/21/c_133062259.htm

Human Rights Watch attacks IMF chief over Cambodia visit

American lobby group Human Rights Watch has lashed out at Christine Lagarde, the managing director of the International Monetary Fund, for her trip to Cambodia earlier this month. In a commentary posted Thursday, it noted that the IMF recognized that corruption threatened market integrity, distorted competition, ...

The Cambodia Herald News Staff
http://www.thecambodiaherald.com/cambodia/detail/1?page=11&token=YTNmNDE1NGJiZjY

IMF Reiterates 7 Percent Growth Prediction for Cambodia

The head of the International Monetary Fund (IMF), Christine Lagarde, has reaffirmed an earlier prediction that Cambodia will grow 7 percent this year, in an interview published today by The Post newspaper. Lagarde praised the country’s economic outlook, although she acknowledged that it will face challenges, ...

Prensa Latina News Staff
http://www.plenglish.com/index.php?option=com_content&task=view&id=2140481&Itemid=1

IMF chief pledges continued support to Cambodian reforms

The International Monetary Fund (IMF) Managing Director Christine Lagarde pledged Monday to continue providing technical assistance to Cambodia for financial and fiscal reforms. Speaking during a meeting with Cambodian Economy and Finance Minister Aun Porn Moniroth, Lagarde hailed Cambodia for sound macroeconomic management and fruitful cooperation ...

Xinhuanet News Staff
http://news.xinhuanet.com/english/world/2013-12/02/c_132935757.htm

IMF Managing Director Christine Lagarde to Visit Cambodia

nternational Monetary Fund (IMF) managing director Christine Lagarde will visit Cambodia next week as part of an Asia tour that will also include stops in South Korea and Burma, according to an IMF spokesman. Ms. Lagarde will meet with Cambodian government officials, university students, investors and ...

Colin Meyn
http://www.cambodiadaily.com/business/imf-managing-director-christine-lagarde-to-visit-cambodia-47940/

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