IMF Warning Over Economic Reforms

September 2004
Asia Monitor: South East Asia Monitor Volume 1;Sep2004, Vol. 15 Issue 9, p6
Country Report
Country Report
The International Monetary Fund (IMF) has recently published a report on the prospects and problems of economic reform in Cambodia. The document states that favourable external developments have masked an underlying deterioration of competitiveness in the economy, and that additional fundamental reforms are needed if government is to succeed in pulling more of the population out of poverty. The core of the problem, according to the IMF, is the limited size of arable land in the country and the lack of clear property rights. The present lack of clear land-use rights has reduced the incentive to invest in the land to improve productivity through, for example, irrigation and improved seeds. The Cambodian economy is forecast to grow by 5.5% in 2004. Further sustainable growth however depends on additional improvements to the country's business environment.


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