Cambodia's Public Debt Surpasses $13.56B as H1 Payments Surge 31%

PHNOM PENH, Sept 10, 2026 (KPT) — Cambodia’s public debt stock reached $13.56 billion at the end of the second quarter of 2026, while debt-service payments rose 31% year-on-year in the first half, official data showed Thursday. According to the Ministry of Economy and Finance’s Public Debt Statistical Bulletin, external debt accounted for 95% of the total, or $12.83 billion, with domestic debt making up $735.7 million. Bilateral partners held 58% of external debt and multilateral partners 42%. By currency, 48% of debt was in US dollars, 17% in Special Drawing Rights, 10% each in Japanese yen and Chinese yuan, 9% in euros, 2% in riel and 5% in other currencies. This composition reflects Cambodia's increasing reliance on loans from countries like China and Japan for infrastructure development in recent years. In the second quarter, Cambodia signed $368.9 million in new concessional loans, bringing the first-half total to $460.3 million — up 134% from the same period in 2025. The loans, averaging a 41.8% grant element, were earmarked for public investment projects in priority sectors. The government also issued $515.8 million in securities in the first half, nearly 99% of the annual ceiling, and disbursed $401.9 million from existing loans, mostly for infrastructure. Debt-service payments totaled $389.5 million, including $358.1 million for external debt and $31.4 million for domestic debt. Despite the increase, the ministry said Cambodia’s debt remained sustainable and at low risk of distress. The present value of public debt stood at 19.2% of GDP, well below the 55% threshold, while external debt was 17.9% of GDP, compared with a 40% ceiling. The Ministry said Cambodia continues to apply a cautious approach, prioritizing concessional financing, transparency and investment in high-quality infrastructure.