NBC, US treasury discuss energy prices, financial stability

NBC, US treasury discuss energy prices, financial stability

The National Bank of Cambodia (NBC) and the US Department of the Treasury have discussed Cambodia’s economic outlook, rising global energy prices and potential technical cooperation to strengthen financial sector oversight, particularly in the management of virtual assets.

The strategic issues propped up during a discussion between NBC Governor Chea Serey and the US Treasury delegation led by Deputy Assistant Secretary for Asia and the Pacific Robert Kaproth, at the central bank’s Wat Phnom Building on Friday, according to NBC’s statement.

During the meeting, the two sides exchanged views on Cambodia’s economic conditions, the impact of rising global energy prices on the economy and inflation, developments in the financial sector, and opportunities for technical cooperation.

Kaproth highlighted rising global energy prices and their potential implications for economic performance and inflation. He also discussed maintaining economic stability and developing the regulatory framework for the financial sector.

He expressed support for the NBC’s focus on managing virtual assets and indicated that further discussions on technical cooperation in this area could continue.

In response, Governor Serey highlighted the resilience of Cambodia’s economy, noting that exports and foreign direct investment continued to provide important support. She added that the country’s international reserves remained at an adequate level to support macroeconomic stability.

The NBC governor also reaffirmed the central bank’s commitment to monitoring developments in the financial sector and working with relevant institutions to strengthen the regulatory framework, particularly for virtual assets.

khmertimeskh