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Russia Requests Debt Meeting With Foreign Minister

Russian military helicopters fly in formation with the Kremlin and the Ivan the Great Bell Tower seen in the foreground, in central Moscow May 3, 2014.
Russia’s new ambassador has called on Foreign Minister Hor Namhong to meet about debt owed by Cambodia.

Cambodia has in the past requested relief on $1.5 billion it owes Russia, mainly from the purchase of military and other equipment in the 1980s and 1990s, but in the past Russia has refused.

Cheam Yiep, who is head of the National Assembly’s finance committee, told VOA Khmer he hopes the new meeting, requested by Ambassador Dmitry Tsvetkov, will allow some relief in exchange for agricultural and industrial products from Cambodia.

China recently reduced Cambodia’s debt by $300 million, and the International Monetary Fund recently canceled about $82 million in debt.

Cambodia is highly dependent on foreign aid, much of it in loans, and owes up to $4.8 billion to the international community.