13 May 2008
By ČTK
Prague, May 12 (CTK) - The Czech Republic will forgive most of the debt worth $3.6m (Kc58m) to Cambodia which will have to pay a quarter of the amount, the Finance Ministry told CTK today.
The plan for the debt's reduction is part of a memorandum reps of the Czech Republic and Cambodia signed today.
The Czech Republic will use the paid money for development assistance.
Cambodia should pay 23 percent of the debt, that is Kc13m, to the Czech Republic and then the rest will be forgiven.
Both countries also signed an agreement on mutual protection of and support to investments.
At end-2006, the Czech Republic had Kc18.4bn claims on other world countries. The sum does not include special loans subject to the regime of secrecy.
The amount of money foreign countries owe to the Czech Republic has been falling in the long term.
When the independent Czech Republic was established in 1993, foreign countries owed Kc156bn to the Czech Republic, with Cuba being the biggest debtor.
The Finance Ministry had ranked claims on Cambodia as highly risky.
The plan for the debt's reduction is part of a memorandum reps of the Czech Republic and Cambodia signed today.
The Czech Republic will use the paid money for development assistance.
Cambodia should pay 23 percent of the debt, that is Kc13m, to the Czech Republic and then the rest will be forgiven.
Both countries also signed an agreement on mutual protection of and support to investments.
At end-2006, the Czech Republic had Kc18.4bn claims on other world countries. The sum does not include special loans subject to the regime of secrecy.
The amount of money foreign countries owe to the Czech Republic has been falling in the long term.
When the independent Czech Republic was established in 1993, foreign countries owed Kc156bn to the Czech Republic, with Cuba being the biggest debtor.
The Finance Ministry had ranked claims on Cambodia as highly risky.
7 comments:
I Cambodai owes debt to a lot of coutries in the world, where did the money go, Mr PM?
Paying the SRP big salary to make people suffer. That is where all the money went.
Who was pying the SRP big aslary if the Cambodian govenment has been under the full control of the blind dictator?
Well, nothing is perfect, but we will ultimately remove as much flaws and corruption as we can, and cutting off salary from idiots party like the SRP is on the table. It is better to use it to pay for good civil servants like firemen, polices,..., and teacher to help keeping them from corrupted.
8:17pm to the defected SRP! How iresponsibe is ah Kwack Hun Xen???
when sam raingsy wins, he will send the CPP slave-yuon to be a CR salve instead.
I am sure the Dictator Xam Rainxy will do that so that he can pocket all the moneys to himself. However, that will not happened ever.
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