Tag Archives: global financial crisis

Vattanac Bank opened 3th Branch in Phnom Penh

Despite the global financial crisis, Vattanac Bank extended its operation by opening the third branch on Monday near Olymic stadium in Phnom Penh. The bank received its banking license from the National Bank of Cambodia on June 07, 2002 and … Continue reading

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Microfinance recruitment slowing

THE rate of job creation in the microfinance sector will slow sharply this year as the sector’s previously high levels of loan growth start to slow, the industry body has warned. Bun Mony, chairman of lender Sathapana Limited and a … Continue reading

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Lenders faced with the repayment of microfinance loans

In the meeting, representatives and experts said that around 0.6 percent of borrowers from the Cambodia Microfinance Association (CMA) are unable to pay their loans. Although this represents a small percentage, late payments are on the rise. Bun Mony, director … Continue reading

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Prime minister: Revise GDP calculation

PRIME Minister Hun Sen wants national economic growth to include the domestic output of women in individual families and small-scale agriculture, criticising recent estimates for therefore being incorrect in omitting such information. The premier requested that the National Institute of … Continue reading

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World Bank: Global economy to shrink in 2009 for the 1st time since WWII

WASHINGTON, March 8 (Xinhua) — The World Bank said on Sunday that the global economy will shrink in 2009 for the first time since World War Two and estimated developing countries face a financing shortfall of 270-700 billion dollars this … Continue reading

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Deficit a risky business during global crisis

Asian leaders maintain that the region is in better shape than other areas of the world. Do you believe that Asia will escape the worst effects of the crisis? Asia has two major problems – current accounts deficits are rising … Continue reading

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