Cambodian News

BANGKOK, THAILAND: Asian finance ministers pledged Sunday (22 Feb) to uphold free trade and investment in the midst of the global economic slowdown and said they would allocate an additional $40 billion to protect falling currencies.
The ministers from 10 Southeast Asian nations as well as China, Japan and South Korea agreed to boost funding for [...]

Finance ministers of Southeast Asian nations, as well as Japan, China and South Korea, agreed Sunday on steps to prevent the region falling into financial meltdown.
In its joint statement after a meeting in the Thai resort island of Phuket, the ASEAN+3 countries agreed to prepare the precautionary measures by expanding their cooperation fund to US$120 [...]

PHUKET: Asian finance officials agreed in principle on Sunday to expand a currency swap agreement to help bolster their currencies in the global economic crisis.
The ministers and senior officials agreed to set up a multilateral swap fund totalling $120 billion, up from the $80 billion proposed last year, Surin Pitsuwan, secretary-general of the Association of [...]

PHUKET, Thailand — Finance ministers from the ASEAN plus three countries agreed Sunday to speed up the process of operationalising the Chiang Mai Initiative Multilateralization (CMIM), a regional foreign reserve pool in case of currency flow shortage.
The agreement was reached at a special meeting on Sunday in Phuket in southern Thailand in a bid to [...]

PHNOM PENH: Cambodia’s economic growthv will slow to 4.9 percent next year amid the global financial crisis, less than half the country’s expansion pace of previous years, the World Bank said Wednesday.
“Cambodia, compared to many other countries in the region, is even more open to the external environment,” Stephane Guimbert, the World Bank’s senior economist [...]

PHNOM PENH (AFP)–Cambodian premier Hun Sen said Friday the country’s banking sector was stable despite the global financial crisis, but plans to set up a national stock exchange could be delayed.
The prime minister said the state of the country’s finance industry was “in a stable position which is not worrisome” because Cambodia “has not yet [...]

SIEM REAP, Cambodia (AFP) — The world’s poorest countries on Thursday called on rich nations to continue giving aid despite the global financial crisis.
The appeal from trade ministers and representatives from nearly 50 Least Developed Countries ended two days of talks in Cambodia’s tourist hub Siem Reap to discuss trade and the credit crunch.
Jointly organised [...]

Cambodia’s economic growth rate will be slashed by more than half compared to 2007, as a financial slowdown continues to plague world markets, the International Monetary Fund said Friday.
Cambodia’s economic growth rate will be around 6.5 percent for 2008 and will decrease to 4.25 percent next year, the IMF said, reporting findings of a visit [...]

PHNOM PENH, Nov. 10 (Xinhua) – Cambodian government officials have rebuffed a gloomy economic forecast by the International Monetary Fund (IMF), saying the Kingdom’s predicted growth slowdown would not be as dire as the world body suggests, national media reported Monday.
At the culmination of a two-week mission Friday, the IMF announced that [...]

In September, before the globe slipped into a financial crisis, developers in Cambodia had planned at least 30 colossal construction projects, including a giant modern city, and buildings with as many as 20 to 50 floors.
But after the US housing market crashed and global markets plummeted, many projects, especially the biggest ones, have been delayed.
South [...]