Hey all,
I had an idea that the government made some sort of official decree recently, asking banks and MFIs to reschedule loan repayments, but I can't find the decree. Can anyone help me with this or any information on the subject ?

My Khmer friend who was running tourist businesses has not worked for about a year. The family are scraping by, but they owe money to the bank to be paid this month (1 April ). I thought that if my friend went to speak to his bank manager armed with a government decree to show him, that that might improve his chances of delaying his loan repayment.
Any suggestions welcome.

I don't think there's been any such degree. Like 95% sure. I'm afraid he's stuck like everyone else and should get creative.

there was something about repayment holidays in the now retracted assistance promises of a few days ago
previously, the big man made it clear that anyone encouraging people to skip payments would be in trouble
imho, the loans business should have it's revenue shut down along with everything else

Phnom Poon wrote: ↑Sat Apr 24, 2021 5:46 pm there was something about repayment holidays in the now retracted assistance promises of a few days ago
previously, the big man made it clear that anyone encouraging people to skip payments would be in trouble
imho, the loans business should have it's revenue shut down along with everything else

Thanks. It's a bank loan, so if he doesn't renogotiate his loan then they will seize whatever he's put up as collateral. I'm concerned about his kids' future if the land is seized, but I've done what I can to prevent this. Whether that will be enough, I don't know.

On a bigger picture, it looks like a lot of Khmer farming families who have worked hard to get out of poverty are not going to be able to pass on their gains to the next generation, due to debt that they can't pay off because they no longer have work. Back to square one ?

i think the issue needs to be pressed publicly
otherwise of course people are going to quietly lose everything
to the banks and then new chinese investors or whatever

All debtors should man up and pay up or hand their assets to the banks.
Why should they hold onto assets when endangering savers' funds in the bank by having non-performing loans sat on the banks' books?

beerlaodrinker wrote: ↑Sat Apr 24, 2021 6:31 pm All debtors should man up and pay up or hand their assets to the banks.
Why should they hold onto assets when endangering savers' funds in the bank by having non-performing loans sat on the banks' books?

I disagree with you. Why should people in debt "man up" when the government has shut down their means of earning a living ?

The people have been told to stop working why haven't the banks been , argument on both side but a freeze on loan repayments should be implemented.
Term deposit interest should also be freezed, let everyone share the pain is this what you want?

Anchor Moy wrote: ↑Sat Apr 24, 2021 8:06 pm

beerlaodrinker wrote: ↑Sat Apr 24, 2021 6:31 pm All debtors should man up and pay up or hand their assets to the banks.
Why should they hold onto assets when endangering savers' funds in the bank by having non-performing loans sat on the banks' books?

I disagree with you. Why should people in debt "man up" when the government has shut down their means of earning a living ?

So, they surrender their assets, their security. Its how loans work.

atst wrote: ↑Sat Apr 24, 2021 8:20 pm The people have been told to stop working why haven't the banks been , argument on both side but a freeze on loan repayments should be implemented.
Term deposit interest should also be freezed, let everyone share the pain is this what you want?

To follow this argument through, the bsnks should switch off ATM'S and freeze deposits.
You are in favour of that also?