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Wednesday, November 2, 2011

2012: The Government Has the Right to Receive Foreign Loan up to 700 Million SDR

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DPM Keat Chhon, Minister of Economy and Finance has recently said that in 2012 the government will be able to borrow money from foreign sources up to 700 Million SDR based on the 2012 draft Finance Law which is almost double compared to that in 2011 (400 Million SDR). This attributes to two main reasons: Cambodia needs plentiful amount of capital, and it has financing source from overseas; as a result, the outside concession loan increases up to 700 M SDR. He defended “the analysis of debt is the thorough and prudent comparison of domestic products with national incomes and export. As long as it is in conformity with regulation and law on public financial system, Cambodia will be able to manage its own public debt.” (Rasmei Kam.)

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