By Yun Samean
THE CAMBODIA DAILY
A Russian Embassy official…said the exact
amount of the debt...is still under negotiation.
National Assembly President Heng Samrin said Monday that he has asked the Russian government to forgive a $1.5 billion debt that Cambodia owes to Moscow.
Speaking to reporters outside the National Assembly, Heng Samrin said that during his visit to Russia, which ended Sunday, Russian officials also expressed an interest in exploring for oil in Cambodian waters.
"I have requested that the Russian [parliament] drop Cambodia's debt to improve our economy and develop our country," said Heng Samrin, who is also CPP honorary president.
"Russia wants to explore for oil in Cambodia. I welcomed the request because Russia has experience and techniques for exploring for oil," he added.
Russia did not make any promises regarding the debt, but there will be meetings on the matter, Heng Samrin said of his request to Russian State Duma Speaker Boriz Gryzlov.
Heng Samrin did not specify how Cambodia had become so deeply in debt.
In addition to the debt and oil issues, Heng Samrin said he discussed opening direct flights from Moscow to Phnom Penh with Gryzlov. Sergei Mironov, chairman of Russia's Federation Council, promised that Russia will provide military training to Cambodia, Heng Samrin added.
Government spokesman and Information Minister Khieu Kanharith said Cambodia incurred large debts to the then-Soviet Union to buy food and gasoline during economic sanctions imposed by the West on the communist-era People's Republic of Kampuchea during the 1980s.
Khieu Kanharith added that Cambodia would welcome Russian investment in its nascent oil sector.
US-based Chevron, in partnership with Japanese firm Mitsui, has discovered oil and gas deposits in offshore Block A, located in the Gulf of Thailand off the coast of Sihanoukville.
Further exploration is necessary before official estimates of the amount of the deposit are made.
China National Offshore Oil Company has also been negotiating for the rights to explore neighboring Block B, petroleum officials have said.
A Russian Embassy official who declined to reveal his name said that the exact amount of the debt Cambodia owes Russia is still under negotiation, but $1.5 billion is the number "mentioned in the documents."
Finance Ministry Secretary-General Hang Chuon Naron said the true amount that Cambodia owes to Russia is still subject to negotiations.
"We cannot say at the moment," he added.
In December 2005, the International Monetary Fund forgave the $83 million Cambodia then owed the IMF.
Cambodia is also negotiating with the US for relief of its Lon Nol-era debts, which officials have put at anywhere from $80 million to $500 million.
Cambodia had also raked up $454 million in loan debts owed to the World Bank by 2005, but does not qualify for debt relief.
SRP lawmaker and National Assembly National Defense and Anti-Corruption Commission Chairman Yim Sovann said that Cambodia should refuse to pay the Russian debt.
"Some of the money was borrowed during the State of Cambodia which was used to wage war," he said.
Any oil exploration by Russian firms should also be open to a fair and transparent bidding process, he added.
Russian investment interest in Cambodia has been expanding in the last year.
In 2006, a group of Russian investors led by tycoon Alexander Trofimov officially agreed to build a $278 million holiday resort on Sihanoukville's Koh Pos island.
(Additional reporting by Erik Wasson.)
Speaking to reporters outside the National Assembly, Heng Samrin said that during his visit to Russia, which ended Sunday, Russian officials also expressed an interest in exploring for oil in Cambodian waters.
"I have requested that the Russian [parliament] drop Cambodia's debt to improve our economy and develop our country," said Heng Samrin, who is also CPP honorary president.
"Russia wants to explore for oil in Cambodia. I welcomed the request because Russia has experience and techniques for exploring for oil," he added.
Russia did not make any promises regarding the debt, but there will be meetings on the matter, Heng Samrin said of his request to Russian State Duma Speaker Boriz Gryzlov.
Heng Samrin did not specify how Cambodia had become so deeply in debt.
In addition to the debt and oil issues, Heng Samrin said he discussed opening direct flights from Moscow to Phnom Penh with Gryzlov. Sergei Mironov, chairman of Russia's Federation Council, promised that Russia will provide military training to Cambodia, Heng Samrin added.
Government spokesman and Information Minister Khieu Kanharith said Cambodia incurred large debts to the then-Soviet Union to buy food and gasoline during economic sanctions imposed by the West on the communist-era People's Republic of Kampuchea during the 1980s.
Khieu Kanharith added that Cambodia would welcome Russian investment in its nascent oil sector.
US-based Chevron, in partnership with Japanese firm Mitsui, has discovered oil and gas deposits in offshore Block A, located in the Gulf of Thailand off the coast of Sihanoukville.
Further exploration is necessary before official estimates of the amount of the deposit are made.
China National Offshore Oil Company has also been negotiating for the rights to explore neighboring Block B, petroleum officials have said.
A Russian Embassy official who declined to reveal his name said that the exact amount of the debt Cambodia owes Russia is still under negotiation, but $1.5 billion is the number "mentioned in the documents."
Finance Ministry Secretary-General Hang Chuon Naron said the true amount that Cambodia owes to Russia is still subject to negotiations.
"We cannot say at the moment," he added.
In December 2005, the International Monetary Fund forgave the $83 million Cambodia then owed the IMF.
Cambodia is also negotiating with the US for relief of its Lon Nol-era debts, which officials have put at anywhere from $80 million to $500 million.
Cambodia had also raked up $454 million in loan debts owed to the World Bank by 2005, but does not qualify for debt relief.
SRP lawmaker and National Assembly National Defense and Anti-Corruption Commission Chairman Yim Sovann said that Cambodia should refuse to pay the Russian debt.
"Some of the money was borrowed during the State of Cambodia which was used to wage war," he said.
Any oil exploration by Russian firms should also be open to a fair and transparent bidding process, he added.
Russian investment interest in Cambodia has been expanding in the last year.
In 2006, a group of Russian investors led by tycoon Alexander Trofimov officially agreed to build a $278 million holiday resort on Sihanoukville's Koh Pos island.
(Additional reporting by Erik Wasson.)
16 comments:
who didn't see this coming? the government asking to forgive debt? That's how you work the system. Borrow more and blame on the counry poverty, then pocekt it yourself, and ask for the loan to be erase.. its international welfare. That's what cambodia is on.
Now where did i see that before?
Hey, if you want to pay the 1.5
billions USD debt yourself, that is
fine by us; otherwise, just shut
the fuck up, moron.
As far as we're concerned, many
of khmer children have being saved
from the burden of having to pay
this huge dept (worth about 3 years
of international aids) from their
bloods and sweats. And only with
the leadership of PM Hun Sen can
this be done.
Thank you for your leadership,
Somdach Hun Sen et al. Once again
you have save millions of khmer
children with your gifted skills
from heaven, and once again, we
all are at debt to you and your
team.
May God continues to give strength
to help khmer people.
You stupid guy who borrow money the first place to make war with your own people!
ah sva CPP!
Well, we aint gonna shake hand
with no Ethiopian racist like
you, alright?
Cambodian people should be clear that Cambodia and it people does not own anybody/countries any money.
Those countries who think Cambodian/Cambodia own them money, we suggest you pursue your debt collection directly to the past and present borrowers such as "Heng Samrin/Chea Sim/Hun Sen's and the CPP and those signature to your loans".
The one who borrowed and used those money for their owe benefits not for Cambodia's and it people benefits should be the one paying for the loans NOT CAMBODIA, NOT IT PEOPLE!.
Even so, who care? since the debt
will be wipe out and no one will
have to pay for it. Isn't that
right?
I would be much interested if anyone can estimate how much Cambodian owed the world since civil war....1970 until today...
so i can start to save some money to pay them back, since my gavernment is not good in ecomic and know only how to kill and fight.
I am sure if you can become Bill
Gate II, you can pay off our debt
and still have a few billions to
use as toilet paper.
Not bad when Yuon pretends to speak for Khmer..Damned! Can't wait to put my hand on one, preferrably a female one ...lolz!
Passer-by Guest
Yeah, and I hope you don't mind
become a transvestite afterward.
DONG CHI @ 3:59 AM, you haven't the faintest idea as to what one will do with a female Viet...lmao! Ask the French men or better yet ask the Americans...
Wrong, I do know wan the French
and the American men did to
Vietnamese women, but what you
don't know is what Vietnamese women
did to the French and American men.
oh yeah..Do tell all, please?
It take to long to tell it all, but
I can say that the Viets women know
a good recipe for a rice farm
fertilizer, okay?
Voila, ladies and getlemen, a Viet troller @12:36 PM, by his own admission sabotageing KI-media. Need we say more?
Please join me and say:
Vietcong, Go home!
Vietcong, Go home!
Vietcong, Go home!
Horay to the fool10:27!!!
Post a Comment