The Cambodian government had a total public debt stock of $11.09 billion as of the first quarter (Q1) of 2024, according to the Cambodia Public Debt Statistical Bulletin released by the Ministry of Economy and Finance on Friday.
The bulletin said the public debt comprised 64 percent from bilateral development partners and 36 percent from multilateral development partners.
The bulletin said the public debt stock was 46 percent USD, 19 percent SDR (Special Drawing Rights), 11 percent CNY, 11 percent JPY, 7 percent EUR, and 6 percent local and other currencies.
It said that during the January-March period this year, the government signed new concessional loans with development partners totaling $140.1 million, which accounted for 6 percent of the ceiling permitted by law.
It added that the loan signed in the first quarter of 2024 decreased by approximately 71 percent compared to the same period last year.
“Overall, all the loans are highly concessional with an average grant element of around 40 percent,” the bulletin said.
The bulletin said the Southeast Asian country paid $181.5 million in debt services to development partners in Q1 this year.
Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth said all the loans are used to finance public investment projects in the priority sectors, which support long-term sustainable economic growth and increase economic productivity.
“Cambodia’s public debt situation continues to remain sustainable and has a low risk of debt distress despite being impacted by the widespread COVID-19 and other external factors,” he said in the bulletin.
The kingdom’s total public debt is at 19 percent of gross domestic product, which is far lower than the threshold of 40 percent, according to the bulletin. Xinhua