Tag Archives: Financial crisis

Cambodia is an easy target for money laundering

Money laundering happens in almost every country in the world, and a single scheme typically involves transferring money through several countries in order to obscure its origins. In practice, criminals are trying to disguise the origin of money obtained through illegal activities so it looks like it was obtained from legal sources. The most money … Continue reading

Commercial banks expand ATM networks

The global financial crisis did not affect strongly the local commercial banks in Cambodia because most of banks don’t depend on foreign source of finance, and loans from other foreign banks and also don’t buy stocks in the international market. At the mean time, Cambodia has not yet created stock exchange. As Cambodia’s banking sector … Continue reading

Decline in rubber export hit by financial crisis

Since 2007, the global financial crisis has affected the international trade, and cooled down car sales. In addition, the impact of financial crisis also hit hardly the decrease in the demand for tyres and also affected the Cambodia’s rubber production exports to international markets. According to the Cambodia Economic Watch, the rubber sector is expected … Continue reading

Credit crunch hits MFIs

MICROFINANCE organisations said they expect slower growth and higher interest rates as the credit crunch hits foreign lenders who had been a key source of funding to local MFIs. The main threat, sources said, stems from the decrease in available capital as foreign backers trim their emerging market investments, leaving microfinancers less able to serve … Continue reading

Economic meltdown

THE current economic crisis is unravelling before us faster than even the most pessimistic of experts predicted just a few months ago. The effects are already trickling down to ordinary working people. In the Asia Pacific region, the International Labour Organisation has projected that as many as 27 million more people could become unemployed this … Continue reading

UN urges donors to increase aid in agriculture sector

It is because of the world economic slowdown which affected the garment industry and tourism sector in Cambodia, the United Nations asked international donors to increase farm aid in order to save Cambodian economy. The agriculture sector is playing important role in economic growth and poverty reduction. Speaking in an economic forum, Douglas Broderick, resident … Continue reading