Cambodia: Moving Beyond The Frontier

IMF Blog, December 4, 2013

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Christine Lagarde visited Cambodia as the "first leg of my Asia trip." (December 4, 2013)
Cambodia "has already grown by leaps and bounds, and now stands at the frontier of becoming an emerging market economy in the heart of the most dynamic hub of the global economy."
Cambodia has "escaped its post-conflict past" and is "truly at the frontier of great economic transformation."

Young Cambodians "have big dreams and substantial societal aspirations" and want "dignity and respect" to "fulfill their potential."
Key priorities expressed during meetings: embracing the wider world, "good governance and strong institutions," investing in skills and education to underpin economic development and ensure broadly shared prosperity.
Lagarde highlighted engagements with "inspiring women leaders," "dynamic young economists," and students at the Royal School of Administration where she gave a speech on maintaining forward momentum.

The authorities are described as "resolved to stay on the road of macroeconomic stability and economic growth, to invest in skills and education, and to lay down a firm foundation of good governance."
Lagarde emphasized that "the IMF is here to listen to them and to help as they find useful—that we really value our partnership with Cambodia."
The IMF's role in Cambodia is valued, particularly in capacity building and technical assistance.

Cambodia used resources freed up by IMF debt relief to invest in an irrigation scheme that "completely transformed the country’s rice production, turning it from a net importer to a net exporter of rice."
This irrigation example is presented as "a perfect example of partnership in action" and of the "multi-layered benefits" when a member country has full ownership of its economic program.

Royal Audience with King Norodom Sihamoni following a meeting at the Royal Palace (December 3, 2013). Caption: "International Monetary Fund Managing Director Christine Lagarde (L) shakes hands with King Norodom Sihamoni (R) following their meeting at the Royal Palace December 3, 2013 in Phom Penh, Cambodia. Lagarde is on a three country visit to Asia. IMF Photograph/Stephen Jaffe"
Visit to a school run by an NGO focused on educating girls and young women in Kandal province. Caption: "International Monetary Fund Managing Director Christine Lagarde watches school girls in the computer room at Toutes à l’Ecole school December 3, 2013 in Kandal province of Cambodia. Lagarde is on a three country visit to Asia. IMF Photograph/Stephen Jaffe"
The school provides first-rate education to girls from underprivileged backgrounds, offering "an opportunity to obtain the tools for a better future" that many would otherwise not have.

The blog notes a video for "a more detailed look at the IMF’s technical assistance program in Cambodia."

Christine Lagarde, December 4, 2013