Cambodia: Ex Post Assessment of Longer-Term Program Engagement

Author: International Monetary Fund

Volume/Issue: Volume 2004 Issue 324

Publication date: October 2004

ISBN: 9781451821697

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , government , Cambodia , fiscal policy , firm , revenue , financial support , program implementation capacity , policy strategy , renewed access , government contract concession , core area , Oustanding fund credit , civil service , fund staff estimate , government contract , Poverty reduction strategy , Poverty reduction and development , Poverty reduction , Southeast Asia

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Summary

This Ex Post Assessment of Longer-Term Program Engagement for Cambodia reports its progress in implementing its economic stabilization, reconstruction, and reform programs. Prior to the normalization of relations with the IMF, Cambodia faced waves of rapid inflation and exchange rate depreciation, reflecting the government’s recurrent resort to money creation to finance the fiscal deficit as external assistance withered. With monetary instability and negative real interest rates, financial intermediation levels and confidence remain low.