Posted on 03/22/2017 8:39:31 AM PDT by Ennis85
The United States has renewed its demand for Cambodia to repay a war debt of $500m amid President Donald Trump's push to improve the state budget. Such a demand has met with an outcry from Cambodian political leaders and their people, who have consistently called the debt "dirty" and "blood-stained".
Clearly, the memory of the United States' war in Indochina continues to shape Cambodian perceptions of and foreign policy towards the US. Cambodia is reluctant to pay the debt. However, should the US keep forcing Cambodia to service the debt, its moral high ground may be adversely affected.
"I have not sent an official letter to Trump asking him to cancel the debt … They brought bombs and dropped them on Cambodia and [now] demand Cambodian people to pay," said Cambodian Prime Minister Hun Sen early this month.
Debt settlement is a complicated and sensitive issue. There are rules and norms, as well as exceptions. There is no standard measure to settle debt, resting upon bilateral negotiation and agreement.
Most debt negotiations have been solved by the Paris Club, an informal group of official creditors founded in 1956. Cambodia has serviced some of its debts through the Paris Club agreements.
In 1995, as a responsible debtor country, Cambodia serviced debts with France, Germany, Italy and Japan. The Cambodian government refused to settle its debt with the US due to the size of the amount claimed and the legitimacy of the debt.
Historical background
The principal debt of $276m was incurred during the illegitimate Lon Nol regime between 1972 to 1975.
According to the US government, the debt involved the cost of food supplies to support the Lon Nol's government in the civil war.
Lon Nol came to power after carrying out a coup d'etat against the legitimate government led by Prince
(Excerpt) Read more at aljazeera.com ...
“”I have not sent an official letter to Trump asking him to cancel the debt … They brought bombs and dropped them on Cambodia and [now] demand Cambodian people to pay,” said Cambodian Prime Minister Hun Sen early this month.”
We still have lots of bombs and, for a change, a POTUS with the cojones to use them, Hun. Might want to rethink that.
Easy fix. If they do not feel there is a debt, then we shut off all diplomatic connections with them. No VISAs, H1B’s, medical support, foreign aid, etc. Shut it all down and let them decide what to do next.
And how much did our commie give away to bad causes in a weekend?
This is a losing bet. Work out a slightly discounted purchases of harvested mineral resource rights and sell those rights to someplace nearby for a profit to avoid transportation costs.
They profit, we recoup and maybe some goodwill is won.
We need a deal. This is an albatross.
$500m... 40 year old debt... let it go. We budget in the trillions, and this loan is clearly not getting repaid. One-ten-thousandth is an acceptable write-off.
The Cambodians incurred debt from us in the military hardware that was flown in to support Lon Nol, until his defeat by the Khmer Rouge in 1975.
I'd like to see this independently reported from other sources before I accept it's accuracy.
“This is a losing bet.”
Yup.
If any debt is owed regarding Cambodia it is the European socialists owing the people of Cambodia for training and enabling the marxist maniacs that destroyed SE Asia.
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