Cambodia’s Composite Indicator (CI) index, which has been calculated based on the October 2019 and April 2019 WEO update and the World Bank’s 2018 CPIA indicates that the county’s debt-carrying capacity is strong. This classification is improved compared to the 2018 DSA. For the PV of PPG external debt, thresholds are increased from 40 to 55% (GDP) and from 180 to 240% (exports); external debt service-to exports and to revenue from 15% to 21% and 18% to 23%, respectively.
The PPP stock is estimated using IMF’s Investment and Capital Stock Dataset and information provided by the authorities.
Based on Cambodia Public Debt Statistical Bulletin (see Table 13 “Old Debt Under Negotiation”). Data reflects principal amounts, i.e. excluding any accumulated interest. The arrears relate to borrowing prior to 1993.
According to CEIC data, sourced from the NBC, Cambodia’s total external debt amounted to US$13.1 billion in 2018. Although the database does not publish the public/private breakdown, private debt can be estimated at about US$6.1 billion (25.4 percent of GDP) by deducting PPG external debt.
The definition of international reserves has been modified to include foreign currency reserve assets from commercial bank’s unrestricted deposits with the central bank, in line with BPM6. These deposits amounted to about US$4.5 billion in 2018.
Revisions reflect authorities’ transition to Government Finance Statistics Manual 2014 (GFSM 2014) reporting format with support from IMF TA.
The details on the methodology can be found in the LIC-DSF guidance note: https://www.imf.org/en/Publications/Policy-Papers/Issues/2018/02/14/pp122617guidance-note-on-lic-dsf
The CI rating for the 2018 Article IV consultation Debt Sustainability Analysis was medium. Country classification are revised if two consecutive signals suggest an upgrade or downgrade.
Cambodia; Sustaining Strong Growth for the Benefit of All. World Bank, 2018.
The standardized export shock assumes an export growth at baseline value minus 1 standard deviation and lower GDP growth in 2020–21. This translates into export growth at 2½ percent and GDP growth at 0 percent.