CAMBODIA’S foreign reserves rose 10 percent in 2009 despite the global economic downturn, according to National Bank of Cambodia Director General Tal Nay Im. She did not give figures, but foreign reserves were worth US$2.16 billion at the end of 2008, according to figures from the central bank. The International Monetary Fund (IMF) said last month it expected official reserves to remain stable in 2009 as sharply declining exports and foreign direct investment offset plunging imports. It said reserves were worth three and a half months of imports. Reserves were boosted in August by an IMF $108 million Special Drawing Rights allocation.
Forex reserves up 10pc
- Ethnic group ‘disappointed’ to be denied French visas to attend court
Eleven people at the centre of a case involving seven indigenous Bunong villages in Mondulkiri province pursuing legal action in France have expressed disappointment after the French embassy in Phnom Penh denied their visa applications to attend court. A press release said the 11 included a
- Cambodia nabs 12th place in best retirement destinations
Cambodia is an expatriate hotspot for those dreaming of living a more luxurious lifestyle at an affordable cost, according to International Living’s Annual Global Retirement Index 2019. For the fourth year in a row, Cambodia took the top spot in the Cost of Living category.
- EU starts EBA withdrawal
The EU on Monday announced that it has begun the 18-month process of withdrawing the Kingdom’s access to its preferential Everything But Arms (EBA) agreement over “a deterioration of democracy [and] respect for human rights”. However, the Garment Manufacturers Association of Cambodia (GMAC) said
- PM: War result of foreign meddling
Prime Minister Hun Sen said on Sunday that Cambodia’s recent history of conflict was caused by foreign interference. “The wars that happened were caused by provocation, incitement, support, smearing and interference from foreign powers, and the group of ignorant people who pushed Cambodia to