KhmerTimes-Oct 8, 2026
The ASEAN+3 Macroeconomic Research Office (AMRO) has identified three financial stability concerns for Cambodia, linking real estate weakness to banking risks, global financial cycles to external shocks, and uneven capital-market development to deeper regional integration. The assessment was made in the ASEAN+3 Financial Stability Report (AFSR) 2026, released Monday, which examined the region’s financial resilience amid heightened global uncertainty and changing financial linkages. The report’s first chapter, “Navigating Spillovers from Global Shocks – Why Fundamentals Matter,” identified Cambodia among frontier economies facing elevated banking-sector vulnerabilities, with prolonged weakness in the real estate sector weakening asset quality and increasing non-performing loans (NPLs). “Although these vulnerabilities are largely domestic, they could amplify the transmission of future external shocks if global financial conditions tighten,” the AFSR 2026 said. AMRO placed Cambodia alongside Laos and Vietnam among economies where financial stability risks remain uneven. The Kingdom is also identified as more vulnerable to US dollar volatility because of property-sector, debt or external financing constraints. The banking-sector vulnerabilities identified in the first chapter form part of a wider regional financial environment in which external conditions can affect economies through capital flows, exchange rates and financing costs. Cambodia was also included in the report’s external-liabilities analysis alongside China, Hong Kong, Japan, South Korea, Indonesia, Malaysia, the Philippines, Singapore and Thailand.
The Kingdom is grouped with Indonesia, Malaysia, the Philippines and Thailand under ‘ASEAN ex-SG’ in the analysis of external-liability composition. Read more at:
