PHNOM PENH, Cambodia (AP) - Cambodia asked the United States on Tuesday to cancel $339 million in debt that dates back to loans from the 1970s — or consider converting most of it into development aid for the impoverished country.
The proposal, which came during a visit by U.S. Deputy Assistant Secretary of State Scot Marciel, was the latest in a long-running exchange about how to handle the debt and what the money was used for 40 years ago.
"Cambodia has asked the United States government to cancel the debt but if it cannot do that, at least turn 70 percent of the debt into aid for the social development of the country," Deputy Foreign Minister Ouch Borith said after a meeting with Marciel. He said if the latter option were accepted, Cambodia would discuss repayment plans for the remaining 30 percent.
Marciel, who is the U.S. ambassador to ASEAN, was expected to brief reporters later in the day.
The U.S. provided low-interest loans to Cambodia during the regime of Gen. Lon Nol in the early 1970s that financed rice, cotton and other agricultural commodities.
Lon Nol came to power in a 1970 coup that ousted Prince Norodom Sihanouk. The United States was the main financial and military supporter of Lon Nol's regime until it was toppled by the genocidal Khmer Rouge movement in April 1975.
Cambodia's current government says the money was also used to "buy weapons and support the war, which caused great suffering to the Cambodian people," Ouch Borith said.
The two countries have not yet come up with a repayment plan, partly because the Cambodian government refuses to accept responsibility for debts incurred by the Lon Nol regime, and partly because of a disagreement over the amount of debt owed.
The proposal, which came during a visit by U.S. Deputy Assistant Secretary of State Scot Marciel, was the latest in a long-running exchange about how to handle the debt and what the money was used for 40 years ago.
"Cambodia has asked the United States government to cancel the debt but if it cannot do that, at least turn 70 percent of the debt into aid for the social development of the country," Deputy Foreign Minister Ouch Borith said after a meeting with Marciel. He said if the latter option were accepted, Cambodia would discuss repayment plans for the remaining 30 percent.
Marciel, who is the U.S. ambassador to ASEAN, was expected to brief reporters later in the day.
The U.S. provided low-interest loans to Cambodia during the regime of Gen. Lon Nol in the early 1970s that financed rice, cotton and other agricultural commodities.
Lon Nol came to power in a 1970 coup that ousted Prince Norodom Sihanouk. The United States was the main financial and military supporter of Lon Nol's regime until it was toppled by the genocidal Khmer Rouge movement in April 1975.
Cambodia's current government says the money was also used to "buy weapons and support the war, which caused great suffering to the Cambodian people," Ouch Borith said.
The two countries have not yet come up with a repayment plan, partly because the Cambodian government refuses to accept responsibility for debts incurred by the Lon Nol regime, and partly because of a disagreement over the amount of debt owed.
10 comments:
AH KWAK KBOT CHEAT HUN XEN IS BILLINAIRE FROM CORRUPTIONS AND HIS CLANS ALSO MILLIONAIRE. ALL THEIR MONEY AND WEALTH BELONG TO CAMBODIA. WHY WON'T THEY PAY UP!
AMERICAN SHOULD NOT NEGOCIATES WITH AH KWAK! DEBT IS DEBT! YOU OWED YOU PAY!
DEAR CONGRESS MEN PLEASE SAY NO.
HUN SEN HAS MORE THAN YOU AND I IMAGINE,TIGER LIKE HUN SEN LOSE ONE STRIPE HE STILL A TIGER.
khmer express
China builds bridges, roads in Cambodia.
Japan builds bridges, roads in Cambodia.
USA bombed Cambodia and build what in Cambodia ?
This means that USA had imposed Cambodians to fight with USA against Vietcongs with Cambodia money.
Who says USA helped Cambodia in 1970 ?
China, with its policy on Khmer Rouge, had contributed to the massacre millions of Cambodians, and so did Vietnam and USSR. Japan is now in the process of partly implementing Vietnamization of Cambodia with its un-accounted cash. Before you asked why USA bombed Cambodia, read the history, dumbo. Vietnam brought the war into your land assisted by your play-boy king. Sihanouk should have taken retal cash and allowed USA to protect our eastern zone, instead of allowing and supplying the crocodiles, North Vietnamese troops. That is the consequence.
Cambodia soon to be flooded with Vietnamese people. A population of 90 millions against 10 million Khmers, Cambodia is soon to be swamped. History has proven again and again, Cambodia is no matched with Vietnam's Nam Tien,"SOUTH BOUND" policy. Thank to Hun Sen and plenty of Cambodian fools, an abnormal ones, who has no indentity, no conscience, but greeds and excuses, inside and outside the country. Are you one of them? They are destroying their own race, their own nation, not that they don't know but they do.
All the Lon Nolian are dead. Wasn't 2 millions people gone enough to pay this debt?
What!
You borrowed $339 million and don't want to repay the debt?
We call this a thief, hello Khmer!
cheap and broke.
1970 through 1975, and there were agricultural developments? and Lon Nol borrowed the money for those developments? that was so fucking retarded...kindergartener's insult
"US Policy Remains Unforgiving of 1970's Debt"
How about..."Cambodia is unforgiving over the US bombings of Cambodia during the Vietnam War...which caused the death of 568,893 of innocent Cambodians."
Does the Royal Government of Cambodia intend to do something about that?
It's time for the Royal Government of Cambodia ask the US government for compensation regarding this matter.
The US government owes Cambodia $300 billion dollars of damages inflicted upon its country and citizens...
All facts and evidence of American bombardment of Cambodia between 1963-1974 are recorded in films and newsprints world wide.
A portion of compensation to Cambodia should come from Kissinger as well...
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