Skip to main content Accessibility help
×
Hostname: page-component-848d4c4894-xm8r8 Total loading time: 0 Render date: 2024-07-03T06:39:46.282Z Has data issue: false hasContentIssue false

Chapter 23 - External Debt

from PART VIII - INTERNATIONAL ECONOMIC RELATIONS

Published online by Cambridge University Press:  21 October 2015

Get access

Summary

Definitions

23.1.1. Central Government Debt

The central government debt includes:

  1. ⇒ In the strict sense:

  2. • Domestic and foreign loans taken out by the government.

  3. • Domestic and foreign loans guaranteed by the government.

  4. • Treasury bonds (and other public securities).

  5. • Treasury debt towards the Central Bank.

  6. ⇒ In the broad sense, the following items are also included:

  7. • Deposits of Treasury correspondents (private persons, companies and agencies authorized to deposit funds on Treasury accounts).

  8. • Any budget arrears.

Given the current organization of the Ministry of Economy and Finance in Cambodia, government debt management is shared among three agencies:

  1. Treasury Directorate: for the domestic debt, except for domestic loans in foreign currency that are managed by the Directorate for Investments and Cooperation (DIC).

  2. Debt Management Unit of the DIC: for the foreign debt, as well as for domestic loans in foreign currency.

  3. National Bank of Cambodia (NBC): for the balance of payment support loans granted by the International Monetary Fund.

23.1.2. Foreign Debt

The foreign debt of a country is the total of long-term debts owed by residents of this country to non-residents. This definition and the following ones are provided by the World Bank. They are of high importance for at least two reasons:

  1. • Debt data make it possible to measure the country's debt-servicing capacity and are necessary to draw up the balance of payments.

  2. Long-term debt means a loan or an obligation with a maturity of more than one year from the date it was issued.

The length to be considered is that which separates the date of loan agreement signature (loan commitment date) from the last payment due date.

(It is noteworthy that debts with an initial maturity of less than 2 years rather than 1 year are considered as short-term debts by certain countries. However, the World Bank definition is the one we will use, as it serves as the basis for the compilation of international statistics.)

Type
Chapter
Information
Cambodian Economy
Charting the Course of a Brighter Future - A Survey of Progress, Problems and Prospects
, pp. 485 - 508
Publisher: ISEAS–Yusof Ishak Institute
Print publication year: 2012

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Save book to Kindle

To save this book to your Kindle, first ensure coreplatform@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

  • External Debt
  • Book: Cambodian Economy
  • Online publication: 21 October 2015
Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • External Debt
  • Book: Cambodian Economy
  • Online publication: 21 October 2015
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • External Debt
  • Book: Cambodian Economy
  • Online publication: 21 October 2015
Available formats
×