US Delays Cambodia's Loan Payments

The United States rescheduled loan repayments on Cambodia’s’ USD317 million debt but refused the Asian country’s request to completely write off the amount, Reuters reports. The U.S. also declined a proposal to translate the debt to development aid. However, U.S. Deputy Assistance Secretary of State Scot Marciel said they would work out a strategy to help Cambodia repay its loans.

About the author

  • Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.