By Sok Khemara, VOA Khmer
Original report from Washington
11 December 2008
Russia has not decided to forgive Cambodia nearly $1.5 billion in debt, a news agency reported Thursday.
“Talks are underway. The debt exists and should be settled under the Paris Club agreement,” the Russian news agency RIA quoted Konstantin Vyshkovsky, head of the Finance Ministry’s department of international financial relations, as saying. “But we have not signed a bilateral agreement.”
Cambodian People’s Party lawmaker Cheam Yiep has said Russia informally agreed to erase 70 percent of the debt, incurred in the 1980s at a period of heavy fighting, during a delegate visit in November.
Opposition lawmaker Son Chhay said Cambodia should not pay the debt, which is owed to the now-defunct Soviet Union, and not Russia.
“We should not pay, as now the Soviet Union is no longer a union,” he said. “It has split into Russia.”
He added that Russia is now seeking oil, giving Cambodia a position of leverage.
Cambodia still owes around $2.3 billion to foreign governments and lenders. The International Monetary Fund recently forgave $82 million in debt, but the US has asked for repayment of more than $300 million in loans from the 1970s.
Cambodia has requested a forgiveness of this debt, too, but has received no response, Cheam Yiep said.
“Talks are underway. The debt exists and should be settled under the Paris Club agreement,” the Russian news agency RIA quoted Konstantin Vyshkovsky, head of the Finance Ministry’s department of international financial relations, as saying. “But we have not signed a bilateral agreement.”
Cambodian People’s Party lawmaker Cheam Yiep has said Russia informally agreed to erase 70 percent of the debt, incurred in the 1980s at a period of heavy fighting, during a delegate visit in November.
Opposition lawmaker Son Chhay said Cambodia should not pay the debt, which is owed to the now-defunct Soviet Union, and not Russia.
“We should not pay, as now the Soviet Union is no longer a union,” he said. “It has split into Russia.”
He added that Russia is now seeking oil, giving Cambodia a position of leverage.
Cambodia still owes around $2.3 billion to foreign governments and lenders. The International Monetary Fund recently forgave $82 million in debt, but the US has asked for repayment of more than $300 million in loans from the 1970s.
Cambodia has requested a forgiveness of this debt, too, but has received no response, Cheam Yiep said.
7 comments:
Could anyone please tell me how much my newly-born kid is in debt up to January 2009?
Raja
Hey! Khmer people should not pay any debt to anyone.
Person who has to pay those debt are Head of State and their FAMILY TREE.
Is it the right way?
kkk
I told you from a long time ago, that Russia means busines. They were not helping CPP or else same thing as VN, increasing their account receivable so they could screw CPP and Cambodia. They were a producer, made all kinds of weapon that used in Cambodian war. So let me tell you KIDS, if you see one of VN or Russian walking alone, you take them out. They were the ones who planned to move west or took control of Cambodia.
Khmer Long Beach
I told you from a long time ago, that Russia means busines. They were not helping CPP or else same thing as VN, increasing their account receivable so they could screw CPP and Cambodia. They were a producer, made all kinds of weapon that used in Cambodian war. So let me tell you KIDS, if you see one of VN or Russian walking alone, you take them out. They were the ones who planned to move west or took control of Cambodia.
Khmer Long Beach
All is for oil. Chinese, Russia...
Cambodia should not repay "debt" to the U.S. Some of the US "loans" to Cambodia was used to finance the US carpet bombing that killed a million Khmer civilians. Some was used to feed the Khmer Rouge when it was fighting VN-backed Hun Sen government. Khmer people would be dumb to pay the U.S. back the money they used to kill innocent Khmers.
Well, we should not blame the Russians and act stupid, but somebody needs to be blamed. In the time of war, we look for weapons’ suppliers. Then we buy weapons to fight and to defend the nation and that doesn’t come with freebee. Now, the war is over, but the debt is still there. Be rational as a negotiator in dealing the debt. Somebody has to deal with that in a reasonable manner, not to turn around and point weapon and eliminate your supplier. How good is that for your future reliant unless you’re a self sufficient in manufacturing weapons?
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