PHNOM PENH, June 14 (Xinhua) -- The Cambodian government had a total public debt stock of 11.09 billion U.S. dollars 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 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 composed of 46 percent in USD, 19 percent in SDR (Special Drawing Rights), 11 percent in CNY, 11 percent in JPY, 7 percent in EUR and 6 percent in local and other currencies, the bulletin said.
During the January-March period this year, the government had signed new concessional loans with development partners in the total amount of 140.1 million dollars, which accounted for 6 percent of the ceiling permitted by law, it said.
The loan signed in the first quarter of 2024 decreased by approximately 71 percent compared to the same period last year, it added.
"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 had paid debt services to development partners in the amount of 181.5 million dollars in Q1 this year.
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.
"Cambodia's public debt situation continues to remain sustainable and low risk of debt distress despite being impacted by the widespread of 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. ■
