Bankers' bluff: Cambodia starts to clean up its banks

Article Abstract:

Pressure from the International Monetary Fund and other international institutions is forcing Cambodian officials to reform an inefficient and corrupt banking industry. With 30 licensed banks yet virtually no loans or deposits, the industry is overpopulated but contributes little to the national economy. Many banks reportedly deal in money-laundering, and the country is a major heroin transshipment point. Inadequate reserves and other irregularities recently led to the closure of one bank, and others may follow soon.

Commercial Banks, Commercial Banking, Banking industry, Bank fraud

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Say when: the IMF grows exasperated with Cambodia

Article Abstract:

The International Monetary Fund's rising frustration with Cambodian intransigence did not keep it from issuing a delayed $20 million loan on Mar 6 but may block further aid. The IMF decided to restrict its analysis of the govt's performance to a period ending in Sept 1994, at which point things were going relatively well. As the country's main donor group met in Paris on Mar 14, it was seeking another $295 million. An internal dispute at the IMF between the Asia staff and lawyers also threatens further aid.

International Monetary Fund, International relations, International economic relations, Foreign loans, Cambodian foreign relations

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Trail blazer

Article Abstract:

Billionaire businessman T. Ananda Krishnan's profits from successful investments all over the world are being ploughed into Malaysia. The 57-year-old Malay is currently driving a 39-hectare development in Kuala Lumpur City Centre which includes the 88-storey twin towers Petronas Towers. He is working on a number of projects and aims to supply India with satellite broadcast and communications services.

Investment Income (Net), Investments, Malaysia, Buildings and facilities, Krishnan, T. Ananda

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