To be down, out and in debt in Cambodia

The transition from a subsistence to consumer economy has resulted in rising household debts, growing inequality and waves of outward migration.

Vattana San, 24, took out his first loan two years ago to purchase a new motorcycle. His parent’s farm, on the outskirts of Phnom Penh, the capital, was turning a profit and the new vehicle allowed him to travel more easily into the city, where he had just started a new service sector job.

But a bad harvest the following year meant his parents couldn’t afford to repay their debts, so he neglected his own loan to lend a helping hand.

Read the full story: http://www.atimes.com/article/to-be-down-out-and-in-debt-in-cambodia/

© 2018, The Cambodia Daily. All rights reserved. No part of this article may be reproduced in print, electronically, broadcast, rewritten or redistributed without written permission.