Cambodia’s foreign debt tops $9 billion, with China accounting for more than 40 percent

People purchase food at a market in Phnom Penh, Picture taken on May 24, 2021. CamboJA/ Pring Samrang

Cambodia’s outstanding external debt reached more than $9.18 billion as of the first half of 2021 and is expected to reach more than $10 billion by the year’s end, an increase from $8.8 billion at the end of 2020.

Oxfam urges government to use IMF COVID recovery fund transparently

Vendors sell food on the street at a village in Phnom Penh, August 11, 2021. CamboJA/ Panha Chhorpoan

Oxfam has urged the Cambodian government to ensure that a $240million debt-free fund announced by the International Monetary Fund (IMF) to support Cambodia’ economic recovery is used to benefit all Cambodians affected by COVID-19.

IMF says more measures needed to contain high credit growth

The International Monetary Fund (IMF) said that more measures are needed to contain high credit growth in the real estate sector as the country faces uncertainties, including the potential suspension of duty-free trade with Europe over human rights and political concerns.

Human rights abuses, land loss propping up microfinance industry: report

Seak Hong

As debt levels skyrocket, microfinance borrowers are suffering human rights abuses such as coerced land sales, child labor, debt-driven migration and debt bondage, rights groups Licadho and STT said in a report released today.