Wednesday, December 9, 2009

IMF says Cambodia should strengthen banks

Wednesday, Dec 09, 2009
ABC Radio Australia News

The International Monetary Fund has called on Cambodia to strengthen its banking system as the country struggles to pull out of a deep recession.
An IMF report - issued after talks with Cambodian authorities - says the recession and a sharp decline in property prices have further weakened the banks.
Now as the economy recovers, the IMF says Cambodia should safeguard its macroeconomic stability and reinforce the banking system.
The IMF projects Cambodia's economy will contract by 2.7 per cent this year before recovering to a growth of 4.3 per cent in 2010.

No comments: