TheMekongRedDiary

Friday, 12 November, Steve Finch, The Phnom Penh Post THE call for lower interest rates this week by Cambodia’s SMEs points to an enduring concern within the Kingdom’s immature financial sector, but there are currently few opportunities for lower borrowing rates unless the government and financial sector motivate themselves to address the issue. While the likes of Japan and the United States maintain base rates close to zero in a bid to stimulate economic activity, Cambodia has retained among the highest interest rates in the world with few mechanisms for lowering the cost of borrowing. Given the highly dollarised economy, the National Bank of Cambodia has few options for lowering the base rate, which means the private sector will remain in charge of dictating interest rates for the foreseeable future. And, unfortunately, banks and microfinance institutions will see few incentives to reduce rates. With more MFIs receiving deposit-taking licences, in theory, there would appear to be ...

By Socheata Woman: I came here with many other people and we want to go to the top of the mountain… Man: It is not opened for public access today. It usually opens on big National Holiday only. Woman: But we are from far away and we want to see it. There are about 200 people on the 20 trucks which we came to do Kathen in the nearby pagoda. Anyone I can talk to to ask for permission? Man: Maybe you can ask the Chinese man there. He works for the company too. Woman: OK I will talk to him. Thanks… This was the conversation I witnessed while I was waiting for the transferred truck to pick us up at the foot of Bokor Mountain. I was pondering is this fair for a citizen of one’s own nation not to be able to access to its National Park? And need to ask for access permission from a Chinese person? Bokor Mountain, also known as Bokor National Park and earlier, Bokor Hill Station, was built by the French in 1920 during its colonization in Cambodia. It was situated on top of Bokor Mountain In 1993...