For Many Cambodians, Debt Repayment Bigger Threat Than COVID-19
Source: The News Lens
Deep household debt might soon push Cambodia into a crisis as job losses caused by Covid-19 make it even harder for families repay loans, experts and debtors say.
While the country has officially only registered 122 coronavirus cases, thousands of garment workers lost their jobs when their factories closed. Thousands from the tourism or service sectors are also jobless or earning far less money than they were six months ago. For some, this crisis could have devastating consequences, including loss of family land, often a fast track to abject poverty.