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Cambodia’s Debt Trap: Taking Out New Loans to Pay Back Old Loans

A new report suggests microfinance may no longer be working in Cambodia, where the industry holds at least $8 billion in outstanding debt and the average debt is about three times the 2017 GDP per capita.

Phel Hoeun, 47 and a mother of five, lives in Siem Reap province. Her husband makes a living by working as a constructin worker. (Khan Sokummono/VOA Khmer) Photo: VOA Khmer

A new report suggests microfinance may no longer be working in Cambodia, where the industry holds at least $8 billion in outstanding debt and the average debt is about three times the 2017 GDP per capita.

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