By Khmerization
Source: CEN
Mr. Keat Chhon, Cambodia's Minister of Finance said Cambodia owed very little in foreign debts compared to other countries in the region and developed countries in the world. He also dismissed oppositions' allegation that every Cambodian had owed thousands of dollars in foreign debt and Cambodia's debt per population is very high.
Mr. Keat Chhon (pictured) said Cambodia's debt per population is only $233, while our neighbours had a much higher debt per population. He said Vietnam had $354 of debt per population, Thailand had debt of $990 per population, Laos had debt of $484 per population and Singapore had debt of $4042 per population. He said even developed countries had higher foreign debt than Cambodia per population. He said China had $260 of debt per population, South Korea $6842 per population, Japan had foreign debt of $16,714 per population, The United States had foreign debt of $43,748 per population, France had foreign debt of $80,209 per population and Britain had the highest foreign debt per population with every British owing $147,060 in foreign debt.
Mr. Keat Chhon said, currently Cambodia has a foreign debt of $2.263 billion, not including $447 million dollars owed to the United states and the estimated $1.5 billion dollars owed to Russia (the Soviet Union). However, with a population of 14 million, Cambodia should ow at least $3.262 billion in total debt (14 million time by $233 per head). But he said Cambodia has the capacity to repay these debts.
Source: CEN
Mr. Keat Chhon, Cambodia's Minister of Finance said Cambodia owed very little in foreign debts compared to other countries in the region and developed countries in the world. He also dismissed oppositions' allegation that every Cambodian had owed thousands of dollars in foreign debt and Cambodia's debt per population is very high.
Mr. Keat Chhon (pictured) said Cambodia's debt per population is only $233, while our neighbours had a much higher debt per population. He said Vietnam had $354 of debt per population, Thailand had debt of $990 per population, Laos had debt of $484 per population and Singapore had debt of $4042 per population. He said even developed countries had higher foreign debt than Cambodia per population. He said China had $260 of debt per population, South Korea $6842 per population, Japan had foreign debt of $16,714 per population, The United States had foreign debt of $43,748 per population, France had foreign debt of $80,209 per population and Britain had the highest foreign debt per population with every British owing $147,060 in foreign debt.
Mr. Keat Chhon said, currently Cambodia has a foreign debt of $2.263 billion, not including $447 million dollars owed to the United states and the estimated $1.5 billion dollars owed to Russia (the Soviet Union). However, with a population of 14 million, Cambodia should ow at least $3.262 billion in total debt (14 million time by $233 per head). But he said Cambodia has the capacity to repay these debts.
2 comments:
Mr. Keat Chhon,if you go to the bank to borrow money,the bank manager would ask you how much you earn per year. In a case like Singapore had debt of $4,042,that mean Singapore would pay this debt within 5 months or less,because every Singaporean could earn up to$10,500 per year or more.For Cambodian,that don't have any income to pay back,it would take 23 years,if every farmer have to pay $10 per year.
Let's me remind you that previous governments of Cambodia did not have much debt,except in the 70s,The Khmer republic had to borrow money because of the war against the Khmer Rouge.
Cambodia is a rich country. It sits on a gold mind.It is a country that has a rivers run through.It's has so much of raw materials to be exploited.I wonder,where the money would go.
Compare to Loas and Vietnam,Cambodia is behind them in all aspects.Cambodia has not invested anything for the future generation(industry infrastructures or education),as a result,we are going backward. More and more poor Khmer farmers become slaves in Thailand. Don't you see.
Please wake up and grow up.Don't compare apple to orange.
True Khmer
Yes, right...
I want to comment on this too.
Thank "True Khmer"
They cheat Cambodian again.
For example, we earn only 1000 per year, but we pay for the debt is about $230.
We we don't consider the GDP per capita, Mr. Keat Chhun might be right....
Message to Keat Chhun, "You can cheat kids only"...
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