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| U.S. Secretary of State Hillary Rodham Clinton speaks at a press conference during the ASEAN Foreign Ministers' Meeting in Phnom Penh, Cambodia, July 12, 2012. |
Friday, 13 July 2012
Scott Stearns, VOA | Phnom Penh
"What we want to do is work with the Cambodian government to try to resolve these longstanding issues in a way that is fair, to help the Cambodian government enhance its credit worthiness, increase its access to international capital markets. We think it will be in Cambodia’s interest to be able to enter into international financial markets."
U.S. Secretary of State Hillary Clinton is in Cambodia where she met with Prime Minister Hun Sen to discuss U.S. investment and Cambodia's outstanding debt.
Cambodia wants the United States to forgive more than $400 million in debt accrued by the US-backed military government of Lon Nol. He took power in a 1970 coup and borrowed money from Washington at three percent interest, in part, to feed supporters in Phnom Penh as they were surrounded and ultimately defeated by the Khmer Rouge.
Prime Minister Hun Sen says that is "dirty debt" that Cambodia should not have to repay.
Secretary Clinton was asked about the debt following talks with the prime minister and said that under international law, governments are responsible for the obligations of their predecessors "even though that may seem unfair in many instances." Even so, she said she is personally committed to working with Cambodia to make progress in resolving the debt.
"What we want to do is work with the Cambodian government to try to resolve these longstanding issues in a way that is fair, to help the Cambodian government enhance its credit worthiness, increase its access to international capital markets. We think it will be in Cambodia’s interest to be able to enter into international financial markets," said Clinton. "Not be dependent on any one source of funding, but be able to bargain and work toward real credit worthiness."
One idea is to gradually convert loan repayments to domestic investments in education and the environment as a form of additional U.S. development assistance. That has been held up, in part, by the need to establish means of accountability to ensure that the money goes to help the Cambodian people.
Clinton told reporters in Phnom Penh that U.S. assistance to Cambodia has more than doubled over the last decade, to more than $75 million. There is money to help fight HIV/AIDS, to meet the needs of nearly one-quarter of Cambodians who are food deprived, and to reduce maternal and child mortality.
"Sometimes it is a little frustrating, I will admit, for the United States, because we channel our aid, in so far as possible, to the people themselves. We want more people fed," Clinton admitted. "We want more people healthier. We want more men, women, and especially children to have a better life. So we cannot point to a big building we have built. But we can point to more children being alive."
Since normalizing economic relations in 1992, U.S. investment in Cambodia has grown steadily to more than $144 million last year. The government Council for the Development of Cambodia says that is triple the figure for 2010.
Cambodian exports to the United States top one billion dollars annually, mostly garments and footwear.
Clinton is leading the largest-ever delegation of U.S. business to Cambodia as part of an investment forum targeting members of the Association of South East Asian Nations. Participating firms include Boeing, Chevron, Coca-Cola, FedEx, Ford, General Electric, and Proctor and Gamble.
12 comments:
CHER MR LE PREMIER MINISTRE HUN SEN EST CE QUE VOUS ENTENDEZ? ET JE VOUS RÉPETE QUE Mme CLINTON VOUS AVERTIE QU 'ELLE NE VEULE PAS INVESTIR DANS LE BÉTON =LES GROSSES IMMEUBLES CAR ,ELLE A VUE QUE VOTRE PEUPLE SONT SI PAUVRE ET MANQUE DE NOURRITURE,DE SOIN POUR LA SANTÉ. VEUILLEZ OUVRIR VOTRE OEILET VOS DEUX OREILLESET SURTOUT VOTRE CERVEAU AU NOM D'UN DECHO.
IOU?
$400,000,000,000 in debt
-$400 a week with taxes
$10 x 40 = $400 after $300
$399,999,999,600 balance due 08/01/12
Dollar Change
“One idea is to gradually convert loan repayments to domestic investments in education and the environment as a form of additional U.S. development assistance. That has been held up, in part, by the need to establish means of accountability to ensure that the money goes to help the Cambodian people.”
=This is a very excellence concept. If Cambodian have good education will translate into more economic activities and business start ups and more demand for good of services and good clean environments will attract more tourists!
"Sometimes it is a little frustrating, I will admit, for the United States, because we channel our aid, in so far as possible, to the people themselves. We want more people fed," Clinton admitted. "We want more people healthier. We want more men, women, and especially children to have a better life. So we cannot point to a big building we have built. But we can point to more children being alive."
=I truly believe that Cambodia can have both… more people are healthier will have positive affect on Cambodia as a whole in education, offspring, higher living of standard…far beyond ! And at some points in time to show real progress Cambodia must have big building to accommodate more population, retails , market, working place….
I don’t see how Uncle SAM and China can not coexist in Cambodia!
When Uncle SAM and China make peace the world benefit not just for Cambodia! Please give peace a chance!
This is a great wisdom that Mrs. Clinton shares with the Cambodian leader. This is a rare opportunity to have to follow such a great advice and alliance that will liberate Khmer from poverty, devastation, and cheap laboring abroad. I hope those who are in power in the Cambodian government pay a serious attention to Mrs. Clinton's advice.
Khmer Son
i think in gov't to gov't continue discussion about this civil war from previous gov't should be left out of opinions by some political opposition group of people who seemed so biased, prejudice and discriminatory toward mr. hun sen administration. i think america side lead by mrs. clinton have great ideas and motivation to help cambodia resolve this debts in some way, forms, etc. from reading the above statements, i believe mrs. clinton wanted to assist cambodia in resolving this longstanding debts. thus, cambodia and america should work cooperatively to resolve it by channel the debts to some forms of humanitarian assistance and reform in judicial system and education and training where most needed in cambodia. in return, i think cambodia should cooperate with america as partnership working together for the benefit of both countries, america and cambodia, really. biased, prejudice, discriminatory political parties like the opposition should stop bashing cambodia about this debt because the opposition has not contributed any positive, workable solution to cambodia beside their hatred, bias, discrimination and prejudice outlook toward the gov't of mr. hun sen. so, i think america should not take side with the bias, prejudice, discriminatory view of the opposition because the opposition does not represent the whole cambodia, only a few, extremist group of people, really. i just pray the god will bless and forgive and help cambodia to find a workable solution to resolve this debt issue. it would take both countries' cooperation and understanding to work it out, i think.
if cambodia will cooperate with america in partnership, etc, this debt seems like a pocket change for america, really. i really don't think the debt was the real issue with america, it's about how well cambodia can cooperate with america in some way, really.
All this debt will work out some how in the near future.
Cambodia owe > Uncle Sam owe > China
The US must find a way to resolve Cambodia debt before China step in and offer to pay for it. This will make Cambodia sided with China rather than the US.
in the real world the supper power nations can always manipulate their digital money from scratch and can easily manipulate the poor nations into oweing more debt from basically their manipulate ideas. Be aware, no one in this world wants to help others but of their own interests. Hun Sen and khmer people need learn to be smarter by now. The so called 'debt from Lon Nol' it was their intention to ruin the khmer nation because back than both the U.S and the South Vietnam jointed hand in hand to attack Khmer and Lon Nol did not know their intention. The U.S pretented to give them aid in money and equipement for war but at the same time they dropped the B52 on us. So, we did not owe them anything but they are the one who owed us everything. God knows this and in the end the truth always comes out. Just go to youtube under CIA sponsored by the US to destroy the Southeast Asia was their purpose. Now that we are weaked they are trying to continue to beat us in whatever way they like. They talk about human rights but they are one of the most vicious killers on this planet earth. They are of lies, deceieving and manipulation. Why? because they can see that we small and that they are big, it is known as 'bulling', very sad for the innocent really. But Hillary Clinton is a very good woman out of all the American leaders. She is pure god's angel and she knows this, but still she can not do anything about it because of the past, but the best she is trying to do is to mend the relationship between us the U.S, that is all.
If you read Clinton's remark correctly (it is diplomatese, after all), they have forgiven the debt already. They just need to couch it in nice language, e. g. channel it into assistance programs.
10:09AM,
Wrong!!!!
Lon Nol was a top cammander to Sihanouk. The CEE-Eye-Aye went behind Shihanouk and recruit Lon Nol to overthrow Sihanouk because Sihanouk did not allowed the US to use Cambodia as a staging ground to fight against the Vietcong. The plan succeeded but due to Lon Nol lacks of experience in managing the country affair, the people began to starve. Thus, the plan failed miserably!!!!
Pol Pot came along and take over. Sihanouk decided that his top commander have betrayed him so he went with the Khmer Rouge.
Bottom line is, the US did provide Lon Nol with millions of dollars.
I say the US provided the money rather than lending the money.
So, do we owe them or was that just dirty money that the US provide for their failed agenda?
this brings up another question i have: nothing against america, i love america and want dearly for america and cambodia to be best friends, really. my question is we know america financed and supporte the then s. vietnam in the vietnam war, now does that mean all that money financed that war, vietnam has to pay back as well? we never hear about that, but with cambodia under lon nol civil war, the US financed that regime as well, but the difference is the US want cambodia gov't to pay it back. i thought the US was backing the lon nol regime from 1970 ti 1975, does that mean cambodia under a different gov't other than the lon nol regime have to be responsible for the US financed and backed lon nol gov't? what about the vietnam war the US was financing and backed the s. vietnam gov't in the vietnam war, does that mean the current viet gov't have to pay back all the financing and backing of the vietnam war? i think cambodia is being pick on again based on bias, prejudice and political discrimination, etc, don't you think so? i would be interested to read what knowledgeable people have to say about that, really. anyway, just a question, i always love both america and cambodia, nothing against america or cambodia, really.
In 5 years from 1970-75:
Lon Nol owed USA a total of $ 400 millions,
In 11 years from 1979-90:
Hun Sen owed Russia a total of $ 1.45 billions, Poland: $ 300 millions, Zcekoslowaky: $ 150 millions and Esp. with Vietnam without clear report? As we know One Vietname soldier die = the whole families of Vietnam can settle to Kampuchea and get Khmer citizen.
If the USA releast those debts, first Russia, Viet must release those debs too, OK?
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