A Change of Guard

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Friday, 8 January 2010

U.S. to consider turning Cambodia's debt into development aid

Cambodian Prime Minister Hun Sen, right, talks with U.S. Congressman Eni Faleomavaega, left, during a meeting in Phnom Penh, Cambodia, Thursday, Jan. 7, 2010. Faleomavaega arrived the capital Wednesday after a short trip to Siem Reap province.

(AP Photo/Heng Sinith)

January 07, 2010

The United States Congressman Eni Faleomavaega told Cambodian Prime Minister Hun Sen on Thursdaythat he will discuss with his colleagues about Cambodia's debt if it can be turned into assistance for development projects in this country, a Cambodian official said.

Eang Sophaleth, Hun Sen's spokesman told local reporters that during the meeting with Hun Sen on Thursday morning in Phnom Penh, Eni Faleomavaega said he will discuss with his colleagues after returning to the United States about the debt.

Eni Faleomavaega, who was accompanied by his two Congressmen Joseph Cao and Mike Honda, was making a two-day visit to Cambodia.

Cambodia has several times asked the United States government to consider canceling its debt amounting to some 300 million U.S. dollars it borrowed since 1972.

The U.S. has not yet answered to Cambodia's request for the debt written-off.

Cheam Yeap, chairman of the National Assembly's Economic Commission and a senior member of the Cambodian People's Party said several countries including China have written off Cambodia's debts owed some decades ago.

Cambodia is also asking Russia to cancel its debt that amounts around to 1.5 billion U.S. dollars.

Source: Xinhua


My Community Networking said...

Sorry to say that US should not come all the way to Cambodia asking for the settlement of debt borrowed by Marshal Lon Nol at all. After all what US under the Nixon administration did is to use that money to support new regime to overthrow the old regime and use Cambodia as their launching pad to fight against N/Vietnam

Anonymous said...

Well, you should thank these congressmen for trying to help to turn debt into development aid.

I hope the debt-turned-development aid can be successfully achieved and implemented. But, I worry Hun Sen might not be able to find the $300 million dollars to give to the U.S government to convert it into development aid. It is not simple as Hun Sen thought. Turning debt into development aid means that Cambodia still has to find the $300 million and give it to America and America will use that money to develop Cambodia. The problem is that Hun Sen might not be able to find the $300 million to give to America.