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DEBT RELIEF: Govt asks US to write off '70s debt

DEBT RELIEF: Govt asks US to write off '70s debt

DEBT RELIEF

Cambodia has asked the United States to forgive some US$300 million of debt incurred by the Lon Nol regime that ruled Cambodia between 1970 and 1975, officials said. "We want to see the US cancel Cambodia's debts as China, Hungary and the [International Monetary Fund] have done," said Cheam Yeap, chairman of the National Assembly's finance and banking commission. He said the proposal was made during a visit by parliamentarians to the US from May 30 to June 9 that was organised by the National Democratic Institute. Cheam Yeap said the delegation was also soliciting US investments and requesting a review of quotas on Cambodian exports.

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