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NEWS UPDATES 7 July 2009

US to provide assistance to Cambodia financial reform

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The United States government announced Monday its intention to provide technical assistance to the Royal Government of Cambodia to support the country's public management reform program and efforts to improve fiscal controls and promote greater transparency in financial transactions, Chinese news agency Xinhua reported.

The announcement was made after a meeting between Deputy Prime Minister and Minister for Economy and Finance Keat Chhon and U.S. Ambassador Carol A. Rodley, and Michael Ruffner from the Treasury Department's Office of Technical Assistance (OTA).

"The assistance is designed to help Cambodia strengthen the enforcement of laws and controls as they relate to budgeting and financial accountability, banking and financial services, the insurance and financial industries, and tax administration and collection," it said in the statement.

It added that the financial management and accountability assistance programs were expected to begin within the next few months.




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