IMF: Cambodia's economic recovery will ease burdens on businesses and people affected by COVID-19

The International Monetary Fund (IMF) has been optimist of    Cambodia's economic recovery, which will ease the burden on businesses and people affected by the COVID-19.


The IMF statement was made when H.E Chea Chanto, Governor of the National Bank of Cambodia, met with Mr. Yasuhisa Ojima, Representative of the International Monetary Fund (IMF) in Cambodia on 11 October. 

Mr. Yasuhisa Ojima thanked the Governor for supporting and facilitating the IMF mission to monitor and evaluate the Cambodian macroeconomic situation in 2021 by the International Monetary Fund's Mission IV, which took place in early September. 

H.E Chea Chanto thanked the Article IV Consultative Mission and thanked the IMF for its important recommendations in implementing measures to develop the economy and respond to the Covid-19 crisis.

He praised the presence of the International Monetary Fund's representative office in Cambodia, which has played an important role in facilitating the provision of technical assistance and capacity building to staff.

The IMF has forecast that Cambodia's economy will grow at a faster rate of 2.2% in 2021, supported by better-than-expected trends in the manufacturing and agricultural sectors, driven by strong external demand while the construction sector, the real estate and hotel and restaurant sectors were hit by the "February 20 community event".

In 2022, the Cambodian economy is projected to continue to grow at around 5% due to the expectation of continued recovery of global demand, continued growth potential of the garment and non-garment sectors.

By Mr. Pheara


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