Radio Free Asia
Translated from Khmer to English by Khmerization
The Xinhua Newsagency on Thursday reported that the Cambodian government has declared that it will start to pay foreign debts after the 2008 national election which will be held in July, in a response to the appeals from the United States.
Mr Hang Choun Narong, Secretary General of the Ministry of Finance and Economy, has said that foreign debts will be reduced to about $US2 billion after the government negotiated with the creditors. He said that Cambodia needs to earmark about $US20-$US50 million annually in order to pay debts to the United States and Russia.
According to the Xinhua Newsagency report, which quoted the Ministry of Finance and Economy, as of 2006, Cambodia has foreign debts totalled more than $US3 billion.
in February, a U.S official has told the Cambodian National Assembly that Cambodia has foreign debts totalled more than $US2,500 million.