 Cambodia’s garment industry stands to benefit from the declining value of the United States dollar, according to Jayant Menon, principal economist at the Asian Development Bank’s Office of Regional Economic Integration.The riel has strengthened against the dollar since an announcement last Wednesday that America’s Federal Reserve would buy up Treasury debt at a rate of around US$75 billion per month to the end of June,
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 CAMBODIA’S riel appreciated to 4,135 against the greenback at some money lenders yesterday, as the United States announced huge quantitative easing measures to kick start its economic recovery.
The value of the dollar has slipped since the Federal Reserve announced a plan on Wednesday to spend US$600 billion on government bonds over the next year as part of a scheme of quantitative easing.
The news – which was higher than many forecasts – lifted hopes that the world’s biggest economy could see stronger growth, although some policy makers fretted about the knock-on effects for Asian economies.
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 The United States has pledged a further US$17 million to support Cambodia’s economic growth, including aid for small and medium-sized businesses.
Cambodia and American representatives will today sign an amendment to an existing agreement,with the US Agency for International Development agreeing to provide extra funding for economic growth, food security and climate change initiatives.
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 REGULATIONS to cover large micro-insurance initiatives in Cambodia have been drafted by the Ministry of Economy and Finance, providing a potential boost for the nascent insurance industry.
Micro-insurance – the provision of low-cost insurance to large low-income populations – has gained popularity in countries such as India and the Philippines but has so far been limited in Cambodia to pilot projects carried out by non-profit organisation
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PRIME Minister Hun Sen announced yesterday that the government would guarantee 50 percent of commercial bank lending to rice producers in a bid to increase Cambodia’s exports of the grain to a million tonnes by 2015. Speaking at a Phnom Penh unveiling of the government’s new rice production and export policies yesterday, he said borrowers would still have to repay loans, but the state would cover 50 percent of defaulters’ payments.
“We decided to create this policy in order to encourage all commercial banks to provide loans to be used for expanding paddy production and rice exports without worrying,” he said.
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Economic News