Press Statement of the IMF Mission
to Cambodia

IMF Team to visit Phnom Penh, September 18-24

The sixth and final review of the PRGF, together with the 2002 Article IV Consultation, was completed on February 20, 2003. This was accompanied by a disbursement of the final tranche of SDR 8.4 million (about $12 million). During the interim period leading up to a possible successor arrangement under the PRGF, the authorities have committed to sustaining the reform agenda agreed during the sixth review.

In a spirit of continued cooperation and collaboration with the authorities, an IMF mission, to be headed by Mr. Il Houng Lee of the Asia-Pacific Department, will visit Phnom Penh during September 18-24, 2003. The mission will take stock of recent monetary and fiscal developments and offer policy advice aimed at maintaining macroeconomic stability, both during the remainder of 2003 and throughout 2004. The mission will also take stock of progress toward implementation of the National Poverty Reduction Strategy.