Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Forex reserves up 25pc

Forex reserves up 25pc

Forex reserves up 25pc

FOREIGN reserves increased 25.2 percent to US$2.6 billion in 2009, from $2.07 billion in 2008, according to Monday’s central bank annual report. The reserves now held could fund four months of imports into the Kingdom, it added. According to an International Monetary Fund (IMF) report released in December, gross official reserves were thought to have stayed broadly stable in 2009, compared to 2008. But the IMF predicted reserves would fall modestly in 2010, as loose fiscal policy and a widening current account deficit more than offset both official and foreign direct investment flows.

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all