Samdech Akka Moha Sena Padei Techo Hun Sen has once again called on his compatriots not to get into panic over the recent warning of the International Monetary Fund (IMF) and the World Bank over the risks of a global recession.

“The warning is accurate, but it may have psychological impact on the public,” said the Cambodian Premier at a graduation ceremony of the National Institute of Business held here this morning, adding that people may panic and withdraw their money from the bank, leading to a bank crisis.

But, Samdech Techo Hun Sen reaffirmed, Cambodia has not yet been affected by the warning.

The Cambodian Prime Minister said the economic downturn due to the COVID-19 crisis was one thing, but unilateral sanctions, combined with the Russia-Ukraine war, created a dire situation for the global economy.

Anyway, he expressed his hope that the world’s largest economies will find ways to manage their economies from falling further.

Source: Agence Kampuchea Presse (AKP)