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| Photo: AP |
Cambodia election threatens international financial support: Moody’s
The Financial Times | 6 August 2018
The latest Cambodian election, which has already been slammed by governments and democracy advocates around the world, has raised the risk that sources of international financing and aid could withdraw their support for the country, Moody’s has warned.
Cambodia’s July 29 election saw the ruling Cambodian People’s party under strongman prime minister Hun Sen claim victory in all 125 seats up for grabs.
The election came after a prolonged crackdown on opposition groups, media and political dissent, including the banning last year of the main opposition Cambodian National Rescue party.
The election outcome increased risks to continued foreign financial support with a number of Cambodia's major donors, including Australia, Canada, US and the EU voicing concerns about the credibility of the polls, Moody’s analysts Amelia Tan and Matthew Circosta said in a research note on Monday.
If those international donors withdrew aid assistance or imposed economic sanctions, that “would hinder financing for the [Cambodian] government and balance of payments and would weigh on real [gross domestic product] growth”, the analysts said, adding that such moves would have “significant credit-negative effects” on Cambodian sovereign debt.
Cash from the US, EU members and institutions and Australia accounted for about 43 per cent of Cambodia’s net official development assistance funding or about around 8 per cent of total government revenue in 2016, the rating agency’s analysts noted.
“Aid and foreign direct investment inflows have helped finance the large current-account deficit … and have bolstered foreign exchange reserves, which were at a record high of $12.25 billion in June 2018 (around 55 per cent of 2017 GDP),” the analysts said, adding that “strong growth in garments and footwear exports, which accounted for about 73 per cent of all goods exports and 36 per cent of GDP in 2016, is largely underpinned by Cambodia’s preferential tariff access with the US and EU”.
The logic is simple: If Cambodia improves, people will continue to vote for Mr. Hun Sen. Thus, CNRM and Scam Rainsy must disrupt Cambodia in anyway possible, then blame Mr. Hun Sen and CPP:
ReplyDelete1. Stop importing garment from Cambodia.
2. Stop any aids from EU and USA.
3. Hire third-hands from Vietnam to attack Cambodian civilians by robbing, killing, burning, beating up and don't forget raping.
In the recent years, the Cambodian locals got so fed up with the rape problems, they lynched the rapists to death but then the rapists now-a-day would kill the victims to avoid getting captured. Everything can be blamed to the Vietnamese. These rapists speak perfect Khmers and look like Khmer but they were blamed to be Vietnamese. Just use Khmer logic...LOL...
I condemn Mr. Hun Sen for failing to protect the Cambodian women. If he protects them well, he would be guaranteed 50% of the votes every election. CNRP and CNRM are notorious for looking down on women as sex slaves and weak.
I am so confused. Mr. Hun Sen revealed that he was working with Kem Sokha and helped the later to usurped the presidency in CNRP. Why Scam Rainsy was still supporting Kem Sokha?
ReplyDeleteOh wait, did I get it wrong? Scam Rainsy was not supporting CNRP, nor Kem Sokha. He wanted to be in the election and win as the next Prime Minister of Cambodia. He wanted his new CNRM to replace CNRP.
LOL...so confusing. Scam Rainsy also wanted EU and USA to give him tens of billion dollars to build up Cambodia. But before that, he wanted EU and USA to stop importing garment from Cambodia to drive the garment workers nuts then revolt against Mr. Hun Sen and CPP.
Basically, Scam Rainsy is like a child, "I want this, I want that..." LOL...
The problem with the opposition is: They cannot find a worthy leader to oppose Mr. Hun Sen.
ReplyDeleteJust look at Kem Sokha, he is a sex maniac and also a blood thirsty racist. He said there was no S-21 camp. Vietnamese made it up to justify the invasion and occupation. When there was a stamped on Koh Pich, he claimed that Vietnamese caused it to stop Cambodians from celebrating New Years.
Do a google search for: Kem Sokha S-21.
Do a google search for: Kem Sokha bridge too far.
What about Scam Rainsy? When he was interviewed, "Are you a soft leader?" He jumped the gun, "No I am not." Then he asked, "What do you mean soft." LOL.... I think he was thinking about his yang-thingie as compared to Kem Sokha's mighty spear!
Australia, Canada, the European Union and the United States have expressed “profound disappointment” with the lack of opposition participation. But they did not say anything about rigging and cheating. They are fools and blind.
ReplyDeleteBut they all say the election was a sham and that is more than enough, unless you don’t understand the word SHAM.
DeleteWhat Sam Rainsy wanted was a "sam" election which included him, but what he got was an election without him. Thus he called it a "sham" election.
DeleteAll US, Australia, Canada, EU never mentioned the word "sham" election. They were disappointed that Cambodians were so stupid and could not produce a worthy opposition to confront Mr. Hun Sen.