Phnom Penh (FN), Jan. 25 – Cambodian secretary of state of the Ministry of Economy Vongsey Visoth said that the bond issue does not reflect a shortage of state money, but a test of securities market mechanisms.

Visoth spoke at a public forum on macroeconomic management and the Law on Finance for 2023 on Wednesday (Jan 25).

Bond issue allows Cambodia to rely more on domestic public debt than foreign debt, Visoth added.

"For the bond issue, we want to test the mechanism of our securities market operating system, so that the first goal is to work on this mechanism, and the second is to become a base for private bonds, which is a long-term goal," Visoth said. "We want to diversify our debt, not to rely too much on foreign countries, as we also have plenty of domestic debt.”