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IMF chief cites growth but warns of challenges

IMF chief Christine Lagarde meets with Prime Minister Hun Sen at the Peace Palace in Phnom Penh
IMF chief Christine Lagarde meets with Prime Minister Hun Sen at the Peace Palace in Phnom Penh. PHOTO SUPPLIED

IMF chief cites growth but warns of challenges

International Monetary Fund managing director Christine Lagarde applauded Cambodia’s economic outlook yesterday but said it is not without challenges.

In an exclusive interview with the Post, Lagarde reaffirmed the IMF’s seven per cent growth prediction for the year.

“We believe that Cambodia will be an attractive destination for foreign direct investment,” she said.

But Lagarde also acknowledged that there are challenges ahead for Cambodia in its health and education sectors, as well as its financial markets.

Earlier in the day, the IMF chief met with Prime Minister Hun Sen at the capital’s Peace Palace.

The prime minister’s spokesman Eang Sophallet announced afterwards that the IMF boss had congratulated the premier on his election victory.

Lagarde declined to comment in her interview with the Post on the country’s political situation, other than to say that “the more certainty there is in all respects, the better for the economy and for the people”.

Opposition Cambodia National Rescue Party spokesman Yim Sovann would not be goaded on the alleged comments of the government yesterday.

“She has the right to express her opinion and the Cambodian people and the majority of the voters have the right to express their opinion also.”

See tomorrow’s edition of the Post for more of the interview with Christine Lagarde.

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