The inflation in Cambodia could probably double the one of last year in 6.5 percent, reported the International Monetary Fund. In 2010 it was 3.1 percent. However, other groups estimated a lower inflation for the country like the World Bank that reported 5 percent, the Asian Development Bank in 5.5. percent and the Cambodian government in less than 5 percent. The president of the Cambodian Institute for Development Study, Kang Chandararot, said to the Chinese press agency Xianhua that the IMF forecast is more possible: ‘Now we have observed that petroleum and food prices in Cambodia have been skyrocketing,’ he noted, but he concluded that the rate is still ‘low and manageable.’ The US dollar has fall 2 percent to 3,982 riels. In 2010 it was 4,060 in a country that uses two currencies.
The 2011 Sendai earthquake and tsunami is going to have more consecuences than we can imagine. One is about economics in one of the global powers of our time. We hope that the Japanese discipline and courage will save the country, but it will affect, anyway, the finances of our planetary markets and a deep reflection over the nuclear energy. Numbers at Nikkei 225 went down in Tokyo 5 percent, closing with a fall of 6.18 percent about. The explanaition is that the main Japanese companies stopped their production after the natural tragedy, not only those of the region that was affected by the earthquake and tsunami, but in the whole country due to the national power outage. Reports say, for example, that Nissan’s shares fall 9.5 percent after it had to close all its factories, while Toshiba’s fall was of 16%. The Japanese currency, Yen, experienced also a fall and the oil barrel fall less than 99 US dollars in the Asian markets as a consequence of the reduction in the use of oil in Japan. How this crisis will affect the economies of developing countries like Cambodia where Japan has also its investments? Let’s hope that the Asian giant will overcome its tragedy, one that belongs also to all humanity.
Young Cambodians are optimistic about their countries’ development
Young Cambodians are rather optimistic about their own country and they think it is going in the right direction in what has to see with development. It is the conclusion of the US International Republican Institute (IRI) in its July 31 – August 26, 2009’s Public Opinion Survey on Cambodia that was released this month. Continue reading →
We start a new year and the eyes of the global markets are expecting best numbers in 2010. The last 18 months were the worst in economy in the world since the 1930s Great Depression. Especially huge economies like US, Japan and Britain suffered the consequences of the sudden crush of several markets around the world duiring the first months of the year. Just the fear to the financial chaos rose the numbers of unemployment, worsened the situation of immigrants, caused cuts in exports and imports and reduced tourism around the globe. Continue reading →