APD | Cambodia paid 8 percent of its debt

By APD writer Kin Ratha 

Cambodian government has made debt service payment to development partners accounted for $11.39 billion from 1993 to the end of 2018, or equally 8 percent of the country’s public external debt. 

From 1993 to the end of 2018, the government has signed concessional loan agreements with developing partners accounted for $11.39 billion, in which 86.9 percent and 13.1 percent covered on infrastructure and other priority sectors respectively, according to executive summary on Public Debt Situation of Cambodia.

The purpose of the borrowing is to finance public investment projects in the priority sectors that support long-term sustainable economic growth and increase economic productivity. 

From 1993 to the end of 2018, the government has disbursed $7.29 billion from developing partners for 64 percent of the total borrowing in which 87.07 percent covered for financing public investment on infrastructure sector and 12.93 percent other priority sector respectively.

As of year-end 2018, the government has a total public debt outstanding of $7.02 billion in which 0.04 percent or $2.78 million is public domestic debt and 99.96 percent or $7.02 billion is public external debt. 

In bilateral, as of year-end 2018, Cambodia borrowed from eight countries, of which $4,620 million from China; $1,685 million from France, and $1,347 million from Japan, while $4,056 from multilateral organizations (ADB and World Bank).

(ASIA PACIFIC DAILY)