2016-10-24
On 24 October 2016, H.E. Chea Chanto, the Governor of the National Bank of Cambodia allowed Mr. Changyong Rhee, Director of Asia-Pacific Department of the International Monetary Fund (IMF) to pay a courtesy-call during his mission in Cambodia from 24-25 October 2016. This is his second mission since 2002. His mission takes place after the IMF published 2016 Article IV consultation optimistically assessing the Cambodia economic development and prospects in 2016 and in the medium term.
Taking that opportunity, H.E. Chea Chanto brief him about the background of Cambodian banking sector since French colonization era and the important stages of development of the banking sector until now. He informed Mr Rhee about recent development of the banking sector, in particular, roles of this sector in providing funds to main economic sectors to support economic growth and alleviate poverty in Cambodia. Mr. Rhee noticed the rapid development of Cambodia compared to his last visit 14 years ago. He reaffirmed the IMF in supporting the Royal Government of Cambodia and the National Bank of Cambodia for the economic and financial development process by continuing monitoring regularly the macroeconomic progress and providing technical assistance aimed at enhancing staff and instituted capacity building.
