Hit by the global economic slowdown and the loss of E.U. trade benefits, Cambodia’s economy is projected to contract 2 percent this year, with the World Bank warning that poverty rates will be on the rise regionwide.
Microlender Prasac has been considered as being in default of more than $800 million in liabilities to funders due to the quality of its assets, according to its interim financial report, as credit risks rise across the microfinance sector amid a Covid-19-driven economic slump.
A Chip Mong company representative said there was no threat made against protesters in its luxury Phnom Penh gated community after the residents, who opposed the filling in of a pond near the compound’s golf course, accused it of sending armed guards to remove protest banners from the gates of their mansions.
VOD is an independent media outlet producing radio programs and disseminating information to the public via the Internet.
© 2019 VOD. All Rights Reserved.
