AFP
WASHINGTON — The International Monetary Fund called on Cambodia Tuesday to strengthen a banking system hammered by the global economic crisis as the country struggles to pull out of deep recession.
The recession and a sharp decline in property prices have further weakened bank balance sheets, even though they are not directly exposed to toxic assets abroad, the IMF said in a report following bilateral discussions with Cambodian authorities.
"As the economy recovers, immediate priorities include safeguarding macroeconomic stability and reinforcing the banking system," the Washington-based institution said after the talks, known as an Article IV consultation.
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