New NBC Leader Takes Post

Planning Minister Chea Chan­to was sworn in Monday as governor of the National Bank of Cambodia, but ques­tions still lingered over why his predecessor stepped down.

“A lot of gossip has been flying around about me, but it is not true at all,” former governor Thor Peng Leath said after the ceremony. He did not elaborate.

His resignation letter, which he read at a ceremony attended by Cabi­net Minister Sok An and Fi­nance Minister Keat Ch­hon, also gave no indication why he resigned. Instead, he re­viewed his time as governor since 1994.

One NBC official said the bank’s policies likely won’t change despite the new leadership, and incoming governor’s comments at the ceremony seemed to echo that sentiment.

Chea Chanto, who has held the planning minister post since the mid-1980s, said he would work to fulfill the government’s five-year socio-economic plan.

Among his goals, he said, are to strengthen the commercial banking sector, build confidence in the riel and keep inflation un­der control, as well as reduce pov­erty and malnutrition.

Keat Chhon ex­pressed confidence that Chea Chanto, whose banking ex­perience came in the early 1980s during the People’s Re­public of Kampu­chea regime, when he was the deputy director of the na­tional bank, would have no problem functioning in a market economy. “He has worked in many battlefields,” Keat Chhon said.

Thor Peng Leath has been ap­pointed as a general adviser to the government. It is not known who will replace Chea Chanto as planning minister.

Related Stories

Exit mobile version