Siem Reap Times

Thursday, Sep 19, 2024

Cambodia’s Public Debt Reaches $11.27 Billion in Second Quarter

Debt Remains Sustainable and at Low Risk, Says Ministry
Cambodia’s public debt stood at $11.27 billion by the end of the second quarter of this year, according to a report by the Ministry of Economy and Finance. The Cambodia Public Debt Statistical Bulletin reveals that 47 percent of this debt is in US dollars, with the remaining composed of various currencies including Special Drawing Rights (19 percent), Chinese yuan (11 percent), Japanese yen (11 percent), euro (seven percent), and other local currencies (five percent).

Out of the total debt, 99 percent, or $11.16 billion, is public external debt, while the rest is domestic public debt. The bulletin states that 63 percent of the public debt is borrowed from bilateral development partners and 37 percent from multilateral partners. Public domestic debt makes up just one percent of the total.

In the first half of the year, Cambodia signed new concessional loans totaling $313 million with development partners, which is 14 percent of the ceiling permitted by law. These loans are highly concessional, with an average grant element of around 56 percent, aimed at financing public investment projects in sectors that support long-term sustainable growth and economic productivity. The Ministry of Economy and Finance noted that the country’s public debt remains "sustainable and at low risk."
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