As Cambodia’s economic woes mount, Prime Minister Hun Sen has pushed financial institutions to confiscate the property of borrowers who refuse to pay loans.
Hun Sen’s remarks were delivered at an event Wednesday to launch a cash relief scheme for the country’s poor in response to the economic blow wrought by COVID-19.
They come at a time when hundreds of thousands of indebted Cambodians face unemployment amid what one expert has called a “crisis” in the country’s $10 billion microcredit sector. While the government has moved to shore up lenders, human rights activists and political opponents say the Hun Sen administration has done little to protect borrowers.
In full: https://asia.nikkei.com/Politics/Hun-Sen-to-Cambodian-banks-Seize-property-if-borrowers-won-t-pay