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Tag Archives: International Monetary Fund
Banking during economic decline
The World Bank and the International Monetary Fund released reports on the Cambodian banking sector that warned of potentially serious problems with liquidity and nonperforming loans. What is your reaction to those reports? Firstly, in terms of the banking sector, I think they were a little on the harsh side. Cambodian banks aren’t as developed … Continue reading
Central bank warns lenders over property
CAMBODIA’S central bank has warned that the property market downturn could increase nonperforming loans (NPLs). The National Bank of Cambodia (NBC) said its latest supervision report showed NPLs rising from US$58 million in June 2008 to almost $88 million by the year-end. That was 3.68 percent of banks’ loan portfolios, which stood at close to … Continue reading
National Bank of Cambodia denies banking instability
THE National Bank of Cambodia (NBC) said Thursday that the Kingdom is not exposed to the global credit crunch. Speaking at the Banking Cambodia conference that kicked off Thursday, Neav Chanthana, deputy governor at the central bank, said that the Cambodian banking sector remained in a healthy state. “The National Bank of Cambodia is very … Continue reading
Global economic downturn affected Cambodia: IMF warns
With the impact of the global financial crisis and economic slowdown, The International Monetary Fund (IMF) warned that Cambodian economy will face “serious challenges”. IMF projected that the growth rate of Cambodian economy would be falling below 4.8 percent in 2009. According to Reuters, IMF said in its annual review of Cambodia that the crisis … Continue reading
Cambodian economic growth rate down in 2009
While the global economic crisis continues to collapse, the International Monetary Fund (IMF) projected that the Cambodian economic growth rate will be likely to fall below 4.8 percent in 2009 but Cambodian government officials have rebuffed a gloomy economic forecast. Growth in external trade is expected to slow in 2009 because of a slowdown in … Continue reading
