US asks Cambodia to payback US$700 millions on $278 million loans of pro-US Vietnam War era dictator Lon Nol

[Song Hong]

According to Cambodian Prime Minister Hun Sen, it’s “dirty” and bloodstained money. For the United States, it’s simply a debt that Cambodia, a sovereign state, must pay.

For years, Washington and Phnom Penh have clashed over a $278 million loan that Cambodia took in the early 1970s but which, after four decades of interest and non-payment, has now more than doubled.

In 2010, the US Congress put the figure at $444 million, including interest. In 2017, the US Embassy in Phnom Penh told local media that the debt had risen to $505 million at a concessional 3% interest rate.

Fresh News, the Cambodian government’s mouthpiece, said recently that it had risen to around $700 million, which cannot be confirmed and appears high considering aforementioned US estimates from previous years. Let us assume it is between $500 million and $700 million, but probably toward the lower end of that scale.

But it only started out as $278 million in US loans to the Lon Nol government, which in 1970 had ousted the regime of king-turned-autocrat Norodom Sihanouk.

“I consider the US debt Cambodia owed during the rule of Lon Nol to be a ‘dirty’ debt that forced Cambodia to buy American bombs and drop them on the heads of Cambodians, causing many deaths and injuries. Remembering this story every time, I feel pain for all Cambodians,” Hun Sen said in April in a personal appeal to US President Joe Biden.

America’s debt diplomacy in Cambodia - Asia Times

According to Cambodian Prime Minister Hun Sen, it’s “dirty” and bloodstained money. For the United States, it’s simply a debt that Cambodia, a sovereign

asiatimes.com

 

[8888888888888]

Makes you wonder if they will tell Vietnam to pay back S Vietnam debts as well.

 

[GHALIB]

According to Cambodian Prime Minister Hun Sen, it’s “dirty” and bloodstained money. For the United States, it’s simply a debt that Cambodia, a sovereign state, must pay.

For years, Washington and Phnom Penh have clashed over a $278 million loan that Cambodia took in the early 1970s but which, after four decades of interest and non-payment, has now more than doubled.

In 2010, the US Congress put the figure at $444 million, including interest. In 2017, the US Embassy in Phnom Penh told local media that the debt had risen to $505 million at a concessional 3% interest rate.

Fresh News, the Cambodian government’s mouthpiece, said recently that it had risen to around $700 million, which cannot be confirmed and appears high considering aforementioned US estimates from previous years. Let us assume it is between $500 million and $700 million, but probably toward the lower end of that scale.

But it only started out as $278 million in US loans to the Lon Nol government, which in 1970 had ousted the regime of king-turned-autocrat Norodom Sihanouk.

“I consider the US debt Cambodia owed during the rule of Lon Nol to be a ‘dirty’ debt that forced Cambodia to buy American bombs and drop them on the heads of Cambodians, causing many deaths and injuries. Remembering this story every time, I feel pain for all Cambodians,” Hun Sen said in April in a personal appeal to US President Joe Biden.

America’s debt diplomacy in Cambodia - Asia Times

According to Cambodian Prime Minister Hun Sen, it’s “dirty” and bloodstained money. For the United States, it’s simply a debt that Cambodia, a sovereign

asiatimes.com

if you take loan , get ready to return it , rules of the game are pretty clear .

 

[Beast]

if you take loan , get ready to return it , rules of the game are pretty clear .

Lol.. it's is taken by a government topple by its people.

Can Iraqi ask US to pay them back the money for destroying their country?

 

[Viet]

Makes you wonder if they will tell Vietnam to pay back S Vietnam debts as well.

Of course
Vietnam paid back the debts taken by S Vietnam. It was the key part of the peace treaty between Vietnam and America.

 

[8888888888888]

Of course
Vietnam paid back the debts owned by S Vietnam. It was the key part of the peace treaty between Vietnam and America.

How much is that ?

 

[Viet]

How much is that ?

Not much about 100 million USD
But for Vietnam it was hard considering the Gdp per capita was 100 USD.

Hanoi to Pay S. Vietnam's Debts to U.S.

The government of Vietnam has agreed to pay off debts to the United States left by the defeated South Vietnamese regime, a step that could clear the way for normal trading relations between Washington and Hanoi, a senior administration official said Monday.

www.latimes.com

 

[GumNaam]

and Cambodia says "fck off"!

 

[Beast]

Not much about 100 million USD
But for Vietnam it was hard considering the Gdp per capita was 100 USD.

Hanoi to Pay S. Vietnam's Debts to U.S.

The government of Vietnam has agreed to pay off debts to the United States left by the defeated South Vietnamese regime, a step that could clear the way for normal trading relations between Washington and Hanoi, a senior administration official said Monday.

www.latimes.com

Then they ask Cambodia for USD700m?

Are they trying to do an extortion?

 

[redtom]

if you take loan , get ready to return it , rules of the game are pretty clear .

If you kill, you will pay with your life.

I can't wait to see it. How many lives are Americans prepared to pay for their murder of civilians?

 

[Viet]

Then they ask Cambodia for USD700m?

Are they trying to do an extortion?

It’s because half of them are interests accumulated over decades. If Vietnam had refused the payment today we would have more several hundreds million USD more debts.
Cambodia should negotiate a deal with the US with reduced payments.
Or much better: China pays the debts for Cambodia.
Xi is rich. He has money.

 

[Song Hong]

It’s because half of them are interests accumulated over decades. If Vietnam had refused the payment we would have more several hundreds million USD more debts.
Cambodia should negotiate a deal with the US with reduced payments.
Or much better: China pays the debts.

China renounced all pre-communist debt ever since 1949. These are all forced upon China.

Why you want to pay gangsters who came to your house, killed your brothers, raped your sisters, and coerced you to sign an agreement saying you owed them this much of monies.

American creditors say China should honour pre-Communist debts

A row over historical sovereign bonds

www.economist.com

 

[hualushui]

It’s because half of them are interests accumulated over decades. If Vietnam had refused the payment today we would have more several hundreds million USD more debts.
Cambodia should negotiate a deal with the US with reduced payments.
Or much better: China pays the debts for Cambodia.
Xi is rich. He has money.

The U.S. forces bombed Iraq and robbed Iraq’s gold.
Iraq must be compensated.

 

[GHALIB]

Lol.. it's is taken by a government topple by its people.

Can Iraqi ask US to pay them back the money for destroying their country?

people change govts but country remains same . they used that money .

 

[kankan326]

China renounced all pre-communist debt ever since 1949. These are all forced upon China.

Why you want to pay gangsters who came to your house, killed your brothers, raped your sisters, and coerced you to sign an agreement saying you owed them this much of monies.

American creditors say China should honour pre-Communist debts

A row over historical sovereign bonds

www.economist.com

Fun fact. Before 1949, US offered KMT debts to kill CCP. It would be extremely ridiculous if CCP pays the debts.