Cambodia’s total public debt reaches $11.24B

PHNOM PENH: The Cambodian government had a total public debt stock of $11.24 billion as of 2023, according to the Cambodia Public Debt Statistical Bulletin released by the Ministry of Economy and Finance on Sunday.

The public debt comprised 64 percent from bilateral development partners and 36 percent from multilateral development partners, the bulletin said.

The composition of the public debt stock was comprised of 46 percent in US dollars, 19 percent in SDR (Special Drawing Rights), 11 percent in Chinese yuan, 11 percent in Japanese yen, 7 percent in euros, and 6 percent in local and other currencies, the bulletin said.

Last year, the government had signed new concessional loans with development partners in total amount of $1.81 billion, which accounted for 79 percent of the ceiling permitted by law, it said.

“Overall, all the loans are highly concessional, with an average grant element of around 45 percent,” the bulletin said.

The bulletin said the Southeast Asian country had paid debt services to development partners in the amount of $519.7 million in 2023.

Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth said all of the loans are used to finance public investment projects in the priority sectors that support long-term sustainable economic growth and increase economic productivity.

“Despite being impacted by the widespread Covid-19 and other external factors, Cambodia’s public debt situation continues to remain sustainable and low risk of debt distress,” he said in the bulletin.