The European Union has said that the release of opposition leader Kem Sokha and the reinstatement of the CNRP were incumbent to preventing a trade privileges suspension.
Workers and unionists were quick to reject this move and said they were already facing a loss of salary on account of a large number of factories suspending production and that they needed these indemnity payments to try and sustain their households.
In a press release, the National Bank of Cambodia (NBC) said it would phase out the $1, $2, $5 bills, while pushing for the use of the Cambodian riel. The statement was released after a meeting with bank and MFI representatives.
It projected that the coronavirus pandemic-induced slowdown had affected three of Cambodia’s economic engines – tourism, manufacturing exports, and FDI inflows.
Interior Minister Sar Kheng last month raised concerns over the livelihood prospects of these migrant workers, suggesting they could slip back into poverty.
For the last two months, Cambodia’s most popular tourist destination, and home to the Angkor Archaeological Park, has felt the effects of the viral outbreak that has decimated the global travel industry.
The Boeun family is experiencing an array of socio-economic challenges faced by many Cambodian families and these hardships are more apparent in the wake of the novel coronavirus pandemic.
The Cambodia Microfinance Association (CMA) said Wednesday they had provided some form of relief to 118,000 borrowers, amid the novel coronavirus-induced economic slowdown, though providing little detail of the actions taken.
Ministry records obtained by VOA Khmer showed there were seven factories and seven workshops producing or seeking permits to produce masks and protective gear as of early April.
The findings show that 23 of the 30 respondents said their microfinance debt was the primary cause of migration. The lack of economic opportunities in Cambodia, which was the second most common reason given for migration.
These informal workers are one of the most vulnerable groups in the city, with little to no social protections, even though they provide the critical service of recycling the city’s garbage.
This prompted 135 civil society organizations this week to urge the Cambodian government to ensure that microfinance institutions immediately suspend all loan repayments and interests for at least three months.
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